#Bitcoin Bear Flag
Updated
Hi everyone,
Thank you for considering reading my idea.
Another Bear Flag that is related to my previous bear flag linked in the Related Ideas below. We decisively closed below the flag. Drawing a Fibonacci Retracement from 32923.45 low to 39200 high, the 2 targets almost exact or near the 0.786 and 1.272 levels. Target size are based from the previous downwards price action.
Target size 1 at $34,250 (0.786 level of the Fib Retracement)
Target size 2 at $31,000 (1.272 level of the Fib Retracement)
A retest of resistance could be at $37,700 (0.236 level of the Fib Retracement). This could also be a fake out to the downside just like what happened on Jan 24.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Follow me on my Twitter as well linked below.
Cheers,
Juvs
Thank you for considering reading my idea.
Another Bear Flag that is related to my previous bear flag linked in the Related Ideas below. We decisively closed below the flag. Drawing a Fibonacci Retracement from 32923.45 low to 39200 high, the 2 targets almost exact or near the 0.786 and 1.272 levels. Target size are based from the previous downwards price action.
Target size 1 at $34,250 (0.786 level of the Fib Retracement)
Target size 2 at $31,000 (1.272 level of the Fib Retracement)
A retest of resistance could be at $37,700 (0.236 level of the Fib Retracement). This could also be a fake out to the downside just like what happened on Jan 24.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Follow me on my Twitter as well linked below.
Cheers,
Juvs
Note
We are at the bottom line of the flag. Will we break the resistance?Yellow vs. Blue
Note
Looks like we are rejecting 38k. Volume is not enough though. Let's see in a few hours what would happenNote
Invalidated decisively
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