You know what this means... The bearish flag is a continuation pattern.
Today's candle has strong negative connotations but the day is not yet over.
If the days closes at the current price or lower we can end up with shooting star.
The chart is saying straight down within days, weeks is also possible but not too long.
The chart also shows the potential for a bounce which would find strong resistance at EMA300, 6.89%.
A stronger bounce would definitely be crushed at MA200, 7.42%, but this is the less likely scenario.
Namaste.
Today's candle has strong negative connotations but the day is not yet over.
If the days closes at the current price or lower we can end up with shooting star.
The chart is saying straight down within days, weeks is also possible but not too long.
The chart also shows the potential for a bounce which would find strong resistance at EMA300, 6.89%.
A stronger bounce would definitely be crushed at MA200, 7.42%, but this is the less likely scenario.
Namaste.
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