Bitcoin forming a bear flag underneath resistance. Four above average volume down days vs two up days in this bear flag. Think we likely break down and retest the wick lows, but I think we get an "undercut and rally". Keep in mind there's big support at the 200wma, which is currently ~$22K.
This should coincide with the QQQ taking another mini leg down (SNAP down 28% AH on weak guidance, dragging tech down AH). Expecting a sizable bear market rally to follow given how oversold we are and will be at that point.
This should coincide with the QQQ taking another mini leg down (SNAP down 28% AH on weak guidance, dragging tech down AH). Expecting a sizable bear market rally to follow given how oversold we are and will be at that point.
Comment:
Bear flag breaking down on big sell volume. A lot of people were "hoping" it would break to the upside despite volume patterns telling them that scenario was less likely