Possible bear flag pattern on 2H BTCUSDT
Updated
I am not an expert but I see some newer traders commenting that the bottom is in while in reality, BTC may drop lower and the bear flag that is forming indicates this; another thing to note is that, if we keep dropping this could indicate that the bulls have lost this one and it is back in the hands of the bears. Long term, I am bullish however currently I am keeping any trades I take very tight as I do not feel comfortable going either long or short at this point. Additionally, the RSI has room to drop as well. Note that this chart is on a higher time frame (2H). Best of luck! :)
Note
I hope it goes up from here, as well! If anyone reads this, I do not want to be misunderstood! I have my first leveraged long order (planning to DCA this order) at 8400 with stops loss @ 7700. If I miss this trade and it goes up from the current level (around 8790), I won't complain as I still always hold some BTC. I was one of the people who was very surprised (in a good way) when BTC ran up in January - I could be entirely wrong about all of this! On another note, I am hoping to get to know fellow traders on here and cannot say I know a lot but I would love to get to know you all and share in the discussions so please feel free to reach out :)
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