I'm looking at BTC chart in multi- timeframe. BTC broke symmetrical triangle, formed an ascending triangle but rejected at the resistance level 22.5-22.8K. Today BTC retested symmetrical triangle trendline and can bounce, or it can touch the lower slope of ascending triangle before major bounce. There is a warning sign as well. BTC has formed a gigantic bear flag with the target 11K. If it breaks down the blue parallel channel or Ascending triangle , A bear flag mode will be activated and more likely it will dump to cause a final capitulation.
I give 75% probability to a scenario A and 25% -B based on my previous published analysis. You can also check them to understand why I'm more bullish than bearish.
I give 75% probability to a scenario A and 25% -B based on my previous published analysis. You can also check them to understand why I'm more bullish than bearish.
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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.