#Bitcoin Potential Bear Flag

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi everyone,

Thank you for considering reading my idea.

I think we are forming a bear flag with two potential targets.

Target 1: If we break down the lower line of the flag, target could be at $29,000.

Target 2: If we get supported and break R1 but get rejected on R2, target could be at $30,800.

Let's see if this pattern will get invalidated.

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Comment: Break down then a retest as resistance

Comment: Bitcoin spent a lot of time on R1 but then broke down

Comment: Invalidated!