Correcting before another leg down

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We have a possible running flat forming here in BTC on the 1hr. If this plays out we can expect another leg down. On the daily we have large volume coming in on a narrow candle, a bullish sign that indicates big acculuation. Following the next leg down can start to look for a reversal and buy setups.
We seem to have commenced our final, stomach churning climatic sell off before a sharp reversal to the upside:
Agreed. This is pretty much how I see it, too. Big Bear-Flag can't be ignored.
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