We are indeed in a bear flag of insane proportions.
Right now, every small pump gets beaten down fast. There is absolutely no bounce, only bleeding. Classic indicators are not useful at all and will only mislead speculators in buying a crashing market until they are completly burned.
Target is between 4200$ and 3400$. We should see an insane amount of volume on the bottom of the flag. Confirmation of the pattern will come if we also see an insane amount of volume leading up to break the flag upward. After that, it's bull market extravaganza.
Right now, every small pump gets beaten down fast. There is absolutely no bounce, only bleeding. Classic indicators are not useful at all and will only mislead speculators in buying a crashing market until they are completly burned.
Target is between 4200$ and 3400$. We should see an insane amount of volume on the bottom of the flag. Confirmation of the pattern will come if we also see an insane amount of volume leading up to break the flag upward. After that, it's bull market extravaganza.
Note
Meant Bull FlagNote
Pretty intense day. An gigantic bullish divergence have been formed on the 1D chart and BTCUSDSHORTS have been stupidly pilling at the bottom. The is a pure scenario for a bullish movement, and this can takes us back to the resistance where things can get interesting. This may be the end and I'm not calling for a 4K target unless the top resistance holds.Note
We are at a crucial time. We may break the bullflagNote
We are retesting the resistance of the bull flag. Let's hope this turns out to be a resistance nowNote
Seems like we are gearing up some bullish movement. Anything between 6k-6.5k can be used as a long term hold.
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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.