Bitcoin Bear Trend Continuation

I think there is a formed trend continuation pattern at the Bitcoin chart. There is a triangle which i think is a pennant and some movements that i think head and shoulders continuation pattern. I made some calculations on patterns and first price target met with Bitcoins bottom line of big triangle and second target met with 6k bottom. It seems reasonable but I am still cautious. Publishing it for tracking its development.

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After the pullback first target reached

Trade closed: target reached

I was expecting to test 6k but we bounced from the patterns 1:1 target, we can still drop but this ideas target reached i think.

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Note:If we are gonna take 10k as a flagpole start point then the target is 4800.

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Short term

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Dropped too quick i think. Not a good sign.

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At this point while i am looking at charts this pattern actually can be middle of the correction. As i said earlier at jun 15if this is the case then 4800 is target point

Trade active

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Of course first we should break down second target which is reached today.

Trade closed manually

Noone cares but still we did not stay below second target so trade right now closed.

dr.orientem

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dr.orientem

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