dragononcrypto

BTCUSD: Worst Case Bear Flag Extrapolation & BTFD Scenario

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bear flag on 4hr time-frame, vs bullish support on longer-term time-frames. This extrapolation would be a breakdown of the bear flag targeting around $7.4K and again testing the previous maro bull flag resistance turned support trend-line, before continuing the bullish rally to $11.5K. The 4hr RSI remains oversold while struggling to leave these conditions, indicating room to fall lower. Long-term time-frames say DYOR and BTFD.

VPVR Part 2: Volume Point of Control Now Turned Support


VPVR Part 1: Volume Profile Accumulation Zone $5,910 - $8,630


Network Hash Gives 10th Buy Signal In 9 Years


Extrapolating 2014 Correction - Could $6,500 Be The Low?





Comment: Correction: the 4hr RSI is in bearish territory (as of publishing) and currently testing the neutral zone at 40. Same principle applies, plenty of room to move down if selling pressure continues.
Comment: Looks like we've broken out this bear flag to the upside for now. This doesn't negative the possibility of a worst case scenario to mid sub $8K level, now the Weekly TD is on a Red 2, but it won't be from this bear flag extrapolation that has been invalidated.

As of yesterdays close, I'm feeling more confident about a bounce from these levels due to the Daily MACD histogram confirming bearish exhaustion from oversold conditions (<-175):

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out