Price did a nice bounce yesterday and currently is testing the channel. If btc can break 40k and get into this channel back, this scenario will likely be cancled. For now it's still a downtrend with bearish break out.
Trade active:
As we can see price can't get into tha channel back. Day isn't over, but damage was done
Comment:
So indeed it was a bear flag and after the retest of 40k (channel boundary) price went down really quick. Where it can stop? Next possible bounce area would be around 33-34k - the bigger channel bottom. I am not saying to set long orders there, we still need to see the price action, it could also break this channel to the downside
Comment:
And we are almost there. I expect to see a bounce here. But better to be careful - it can wick thru this channel quickly and then bounce up. And don't forget this is still a downtrend ;)
