Price of bitcoin is ranging in a bear flag. Zig zagging between 18500 and 22500. I believe we will see some zig zagging before we have another wave down. If price reclaims 22500 and we can clearly see it became support then we can have a bias towards a target of 25-26k and that would still not be enough to get bitcoin to start any real uptrend..... If we do not do break 22500, then I expect it to roll over and go to 15-17k price or lower. I think any of these options are plausible but I am leaning more towards shorting based on what I see price doing... There is not much telling us that price will go up... If the Yellow Support breaks that will be break the small trend we have and create lower low giving us reason to become more bearish towards 16k and 12k areas. This is a general guide not a full out plan... Be wise and use proper risk management. See my other post to see why I have 12k range as a target. It is part of a bigger head and shoulder pattern that has a completion area of 12k areas.
Comment:
Previous moves performed as expected when levels showed us where price will move. Now we are in pinnacle of a very decisive point. If we do not reclaim 25200 and make it support we will continue to ladder our way lower and lower from here. If we do reclaim 25200 we have chance to make a move to 28k-30k levels. There is also option that we test 25200 or just a bit higher once more before moving down. I think in the next 10 months we will see lower bitcoin prices. There are options that I will touch on later