BTC bearflag formation on 4H
This is what I am seeing. I see 2 possibilities here, as marked in orange and yellow arrows.
I do feel BTC might go put 42.8k and then start dumping from there - yellow arrow.
If this doesn't happen and if BTC moves up to 44k + levels, good chance of dumping from there - orange arrow.
In my opinion and given the news that is meant to come out in the next couple of days and the ongoing China FUD, the closing of exchanges in China etc. most likely scenario is the yellow arrow. Trade with caution.
I have a buy limit at 38k as I do not want to miss on it if it doesn't go below 38k.
I do feel BTC might go put 42.8k and then start dumping from there - yellow arrow.
If this doesn't happen and if BTC moves up to 44k + levels, good chance of dumping from there - orange arrow.
In my opinion and given the news that is meant to come out in the next couple of days and the ongoing China FUD, the closing of exchanges in China etc. most likely scenario is the yellow arrow. Trade with caution.
I have a buy limit at 38k as I do not want to miss on it if it doesn't go below 38k.
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