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Akamer-the-Werewolf
Feb 25, 2021 12:41 PM

Bitcoin Bearish Scenario 

Bitcoin / United States DollarCoinbase

Description

Looking at this 1hr chart I am still seeing a bullish Three Drives pattern in play. I also see a potential bear flag.

On this daily chart we can see that we have likely entered a consolidation phase.
My whiskers are telling me that we will range inside the triangle until maybe mid-April or May.
For me, it would be healthy to come down to around $42,000 and touch the pink
trendline.




Comment

I redrew it when we broke up and I think this makes more sense now.

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Comments
ontherunsince1905
Just broke above the triangle. What do you think?
Akamer-the-Werewolf
@ontherunsince1905, I redrew it, then we broke above that and now we're back in it. Check the update above. I'm probably short term bearish up to about $54,000. We get above that and I'll close my shorts and run for the hills!
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