I've made several analyses on BTC's bear flag pattern (purple) already, so we won't go into that. However, in blue you can see that BTC is on the verge of losing the daily uptrend of higher lows and higher highs.
Yesterday we closed the day around 24k, which is the same resistance we faced in the last days of July (yellow). If we won't get above 24k very soon, I'm afraid that the bears will start piling in and drive the price lower. In the case of a daily close below the blue bull support, I'd reckon that we're going back to retest the bull flag support.
Today and tomorrow is going to be crucial for the short-term trend. Especially tomorrow's CPI will determine the trading direction for the coming 1-2 weeks.
The hell it's not. Wait, did a trader just say something in the market isn't possible? 🤔 Wrong point of view.
Anyone gonna draw the giant trend line on the daily coming down from ath? 🤷
I'm not sure. Other times it's been a bull run but this is not other times. Might just break the down trend and go sideways. Fiery, you're good, the breakpoint is just above that flag and yeah, if it gets there it's likely it'll break and flip to the top half of this big ass range