Bitcoin potential correction down
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#BTC Bearish Flag formation in 1D timeframe..!!
So far, So Good but In the Worst Case, If the Flag is Broken Downside, Expect Bearish Wave towards the 14k.
If BTC breaks this red line resistance then the chart will be invalidated.
1. The key support area of $ 20900- $ 20746.
2. $20900-$20746 were broken, it will keep falling to test the lower edge of the box and the key support of the month.
3. The key support of the month has diverted to $18317.41, which either holds and sees the price jump up to break the turning point and go up higher OR is broken and BTC plunges further.
Fed’s rate hike expectation: +75bp (77.5%) / +100bp (22.5%)
Previous stats: 1.75%; expected target rate: 2.5%-2.75%.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC Bearish Flag formation in 1D timeframe..!!
So far, So Good but In the Worst Case, If the Flag is Broken Downside, Expect Bearish Wave towards the 14k.
If BTC breaks this red line resistance then the chart will be invalidated.
1. The key support area of $ 20900- $ 20746.
2. $20900-$20746 were broken, it will keep falling to test the lower edge of the box and the key support of the month.
3. The key support of the month has diverted to $18317.41, which either holds and sees the price jump up to break the turning point and go up higher OR is broken and BTC plunges further.
Fed’s rate hike expectation: +75bp (77.5%) / +100bp (22.5%)
Previous stats: 1.75%; expected target rate: 2.5%-2.75%.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
It is retesting below the mid-range. If it got rejected then it would be a sign to retest the ascending triangle or the low range, while a successful breakout of the mid-range would be a bullish sign.