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farhadnmd

Bitcoin Update: Bearish in Short Term, Bullish in Long Term

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
farhadnmd  
BINANCE:BTCUSDT   Bitcoin / TetherUS
Wedge Flag Trend Analysis BTCUSD BTC BTCUSDT Bitcoin (Cryptocurrency) bitcoinprice Contains image
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wedgepattern flagpattern trendanalysis btcusd btc btcusdt bitcoin bitcoinprice containsimage
BTC is painting a bearish flag pattern and the pattern will be confirmed in case of breaking down of the bottom support of this flag at around $40K, this scenario can drag the price down to 26 - 27K which is the projection of this pattern and also the support of the main huge broadening wedge pattern on the weekly chart as well as the wave E of Elliott waves. This level also clusters with EMA200 which makes it more strong.

  • This analysis will be invalidated if a weekly candle closes above the dynamic resistance (around 45K)

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