We have a decline in since this years ATH and there are several patterns that have formed on various time frames, which point to LL according to what the particular patterns dictate.
1) The largest pattern is the pattern which spans from May 18th to current time frame. tells us that BTC is headed towards $4800.00
2) Next in line is the descending that began June 26th. This channel says that BTC is headed towards $4872.00
3) BTC created it's first July 12th to July 16th and the following day BTC hit $9071.00
4) Aug 12-17th formed yet recovered on the 4hr time frame only to form a larger on the daily.
5) #3 Aug 6th to the 20th on the . This is looking to go as low as $7500.00 if BTC losses it momentum.
I would stay out of this trade just to see what happens. If BTC breaks the resistance within the flag, then that is a sign of another failed and a good opportunity to secure profits. However, if BTC closes below the support line within the flag then we will see a big move downward to the size of the flag and then possibly the size of the pole.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
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CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.