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.
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Interestingly enough, the price target for this bear flag matches right up with the 200 EMA on the 5 Day time frame.
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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.
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I still expect price to wick below the Weekly 200SMA, which is currently sitting at 21.73K
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The flag has broken down and retested as resistance. Selling should accelerate now.
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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...