btc 4hr bearflag breaktarget aligns exactly w/weekly chart 200ma
Interesting confluence here as I've noticed that the 4hr chart has a bearflag with a long enough pole that the exact drop target would be almost identical to where the weekly charts 200ma is currently residing in the lower 3.2ks. We all know the weekly 200ma provided the ultimate support for out last big bounce around this region...and it also has a high probability of maintaining that support as well as triggering another big bounce and possibly even a double bottom on that 200ma weekly support trendline. The other confluence is how all the multiple time frames (1hr,2hr.3hr, and 4hr) all seem to be on the verge of an impending deathcross and will likely happen one after another like a set of dominoes. The 1 hour chart has already had its deathcross, the 2hr chart deathcross is next then the 3hr then the 4hr and next and so on until we have all the deathcrosses and I anticipate it will be right when the 4hr death cross occurs that we really drop. Of course we have to break down from the bearflag first with confirmation before entering a position in it. . .so until the death crosss occurs this will remain a no trade zone for now. With a big big move to follow soon. One last thing I noticed is that xrpusd appears like they will be having a 4hr deathcross very soon which could spell trouble for xrp in the not so distant future...hopefully xrp can figure out a way to pull off a deathcross fakeout. Anyways good luck out there it was all this confluence that makes me think it will inevitably break down.
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