BTC looks primed for a move down to $32K over the next 2-3 days. That price level may provide a temporary relief bounce, but even then price action could just continue down. This would be a last chance price level before continuing down to my $18K-$20k near term bottom.
Watch for a break of this bear flag on the lower time frames, which is just a smaller flag inside of a much larger bear flag that has already confirmed a break down.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Watch for a break of this bear flag on the lower time frames, which is just a smaller flag inside of a much larger bear flag that has already confirmed a break down.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
Comment:
If BTC manages to close below the 100 Week MA, look out below. Price will then be pulled like a magnet down to the 200 Week MA.
If BTC manages to close below the 100 Week MA, look out below. Price will then be pulled like a magnet down to the 200 Week MA.
Comment:
I still expect price to wick below the Weekly 200SMA, which is currently sitting at $21.73K
Comment:
The flag has broken down and retested as resistance. Selling should accelerate now.
The flag has broken down and retested as resistance. Selling should accelerate now.
Comment:
BTC closed below the 100 Week MA and rejected by the 5D 200MA. Lights out, MicroStrategy about to get margin called. Luna about to get exposed as a ponzi scheme. Big boys smell blood...
Interestingly enough, the price target for this bear flag matches right up with the 200 EMA on the 5 Day time frame.