BTC Panic Phase

27,8k was rejected and 27,5k was a strong resistance.

Looks like we going down to 24k... 20k.

An idea about incoming panic phase.

Wouldn't be surprised if we hit 10-12k to be honest.

Don't underestimate the drop power of this market.

Good luck.

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Very close to weekly MA200.
If we break it down bulls will be quite scared.

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Closer look on the daily chart you can see the MA100 in soft blue.
When this MA turns down, historically since birth, BTC drops everytime 15 to 50% .

Note

Looks like a bear flag

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85% drop from the top would be a quite normal % for a BTC bear market.

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Bear flag confirmed.

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Looks like another bear flag forming very similar to the previous above.

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Bear flag update

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We might not go so low as predicted but 26-25k is still a possibility.

Ma50 seems to be turning to the upside and pretending to finally cross the MA200 putting an end to the bear market.

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Crucial moment.
MACD crossed.
Bearish move.

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Update:

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We broke down the bear flag as predicted.

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This TA initial idea of an huge Head and Shoulder starting to take shape.

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We are touching the 24k.

Getting closer to MA200 daily as expected. It should be around 23,7k .

A strong bounce may happen in this area.

UnknownUnicorn1859212

Related publications

BTC: Head and Shoulders

by UnknownUnicorn1859212

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