BitcoinShort
BTC: 5 bearish reasons (2/5)
Updated
Hi all! Why do I think the crypto bear market is not over yet? Keep reading...
This is serial of 5 BTCUSD ideas (with 5 bearish agruments) released one after another one at a time after reaching following criterions: This idea needs to get at least 30 likes (just click the 🚀 button) and 20 comments (mine included, just say "thanks" whatever) in order to "unlock" the next idea which I will publish (also here in comments) once the criteria are met and as soon as I can.
1st post of the series met the criteria, so now let's move on!
REASON #2: Bear Flag
So Bitcoin reached the all-time high @ 69K, dumped hard to 33K (flag pole), bounced as high as 48K and then dropped back down to 37K (consolidation). All that price action formed Bear Flag pattern (which is continuation formation) with target @ 12200. Clear break down out of the flag triggered the pattern. Now we are far away from the breakout point but on the other hand we are still quite far away from the pattern target. I mean from 20K to 10K it's still -50%, which is the same as from 40K to 20K. Anyway ... what do you think? Boost and comment in order to "unlock" the next (3/5) BTC bearish reason! Cheers!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
This is serial of 5 BTCUSD ideas (with 5 bearish agruments) released one after another one at a time after reaching following criterions: This idea needs to get at least 30 likes (just click the 🚀 button) and 20 comments (mine included, just say "thanks" whatever) in order to "unlock" the next idea which I will publish (also here in comments) once the criteria are met and as soon as I can.
1st post of the series met the criteria, so now let's move on!
REASON #2: Bear Flag
So Bitcoin reached the all-time high @ 69K, dumped hard to 33K (flag pole), bounced as high as 48K and then dropped back down to 37K (consolidation). All that price action formed Bear Flag pattern (which is continuation formation) with target @ 12200. Clear break down out of the flag triggered the pattern. Now we are far away from the breakout point but on the other hand we are still quite far away from the pattern target. I mean from 20K to 10K it's still -50%, which is the same as from 40K to 20K. Anyway ... what do you think? Boost and comment in order to "unlock" the next (3/5) BTC bearish reason! Cheers!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Note
Just realized I copied (from 1st post) the figures of the potential drop (from 20K to 10K etc) in the description and didn't change them. It would rather be from 19K to 12K which is also smaller % decline but it doesn't matter actually, I'm sure you got the point!Note
1st post of the series:REASON #1: Head and Shoulders
Note
3rd post of the series:REASON #3: Trendlines
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.