BTC forming a tentative bear-flag. May retest the 3600-3700 area
Bitcoin is currently consolidating on the .382 fib level on my chart around 3820. Right now, it appears we are consolidating in what appears to be a bear-flag formation. We are also seeing some bearish divergence on the volume; as for price is climbing as volume is declining. If we break below the .382 fib level on my chart, I suspect we will come all the way down to the .236 fib level area on my chart around 3690. I'll be watching for a potential double bottom around 3500 should the 3690 area not hold. Trend remains bearish in my opinion. If 3500 breaks, I'm watching 2800-3000 as an area of interest.
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
If my post was helpful, and you'd like to support me, here are my donation addresses:
BTC: 3JA2z6FkxDhEHo5ncMEHHGLx78dzzwC1KH
ETH: 0x61DF878e5436530122f1A303e095dBd344502228
LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj
Many thanks! :)
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
If my post was helpful, and you'd like to support me, here are my donation addresses:
BTC: 3JA2z6FkxDhEHo5ncMEHHGLx78dzzwC1KH
ETH: 0x61DF878e5436530122f1A303e095dBd344502228
LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj
Many thanks! :)