๐ฅ Bitcoin LOST The Up Trend: Caution Advised!
A few days ago I made an analysis on BTC where I wrote that, in case of BTC breaking below the blue trend line, we would have a decent chance to make our way towards the bear-flags support.
And indeed, here we are today trading around exactly that support area. I didn't expect BTC to lose so much value in so little time, which obviously means that something is going on.
Since we're trading in a bear-flag pattern, there's a high probability for the pattern to break bearish and continue the macro bear trend. In case that happens, I'm looking for the $20k and $19k supports as potential targets.
Keep in mind that we're not convincingly bearish yet. Wait for the break out or reversal.
And indeed, here we are today trading around exactly that support area. I didn't expect BTC to lose so much value in so little time, which obviously means that something is going on.
Since we're trading in a bear-flag pattern, there's a high probability for the pattern to break bearish and continue the macro bear trend. In case that happens, I'm looking for the $20k and $19k supports as potential targets.
Keep in mind that we're not convincingly bearish yet. Wait for the break out or reversal.
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