BTC , did we hit the 30% correction or are in a a bear flag

Updated

last bull run cycle, the correction will be 30% that we have heat.

we bellow the 21ema daily that is the yellow line
we are in a bear flag but bouncing up
I have 3 resistance that we got rejected yesterday been having this resistance for a while.

are we done with the correction or we will get a long final dump , to 21 ema weekly

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last 2017 correction around 30% each

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this correction

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yesterday candle quite bear to me .

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monthly has a big wick, similar to last correction

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in the 4h is a retest of a broken resistance

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in the 1hr time frame bulls are trinying a double bottom

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death cross in the 4h

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figthing the previous support know resitence, and the red curve resistance.

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if we break this curve red resistance it has meaning we been fitting it since beginning of correction.

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so we broke both resistance, and the daily 21 ema , I think the two yellow curves I been growing as a double bottom are been confirm. it could be a false breakout, but as I said before breaking the red curve had meaning

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we found a resistence and now where are testing the resistance that has converted in support , ideally it will hold and bounce back, but something is off, for know less get the confirmation this is now a support.

Trade closed manually

this is the end of the idea, at the end bulls fought back and manage to create a double bottom.

I closed a short I had from 37k , one time we cross back the blue line .so small profit.

luissjp

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