🚨Short-Term ⚠️POSSIBLE⚠️ Bottom Levels For #Bitcoin $BTC🚨
Updated
After breaking the downwards trend to the upside, the 
BTC price has crashed back down into the wedge, forming a small bear flag inside. IMO this is showing that the mid-term pattern that BTC has been in will break to the downside. This will possibly be a big "fake-out" for bears and might cause some sort of a short-squeeze situation. In anticipation of that, I have charted out these possible bounce levels, ranging from ~26K to ~28K. I have done this, using the macro Fibonacci Retracement levels, the Fib levels of the most recent short-term wave, and 0.618 Fib levels which sit between 1 & 1.618 of each Fib Range in a "scaling down" method. (It was way too busy to leave on the chart, but imagine Russian dolls. 1 Fib range inside another, inside another, etc.)
Important "possible-bottom" levels:
$27,550
$27,071
$26,531
$26,200
$25,982
***This is my own opinion, based on chart data. Not Financial Advice!***
BTC price has crashed back down into the wedge, forming a small bear flag inside. IMO this is showing that the mid-term pattern that BTC has been in will break to the downside. This will possibly be a big "fake-out" for bears and might cause some sort of a short-squeeze situation. In anticipation of that, I have charted out these possible bounce levels, ranging from ~26K to ~28K. I have done this, using the macro Fibonacci Retracement levels, the Fib levels of the most recent short-term wave, and 0.618 Fib levels which sit between 1 & 1.618 of each Fib Range in a "scaling down" method. (It was way too busy to leave on the chart, but imagine Russian dolls. 1 Fib range inside another, inside another, etc.) Important "possible-bottom" levels:
$27,550
$27,071
$26,531
$26,200
$25,982
***This is my own opinion, based on chart data. Not Financial Advice!***
Note
⚠️The short term bear flag on this chart was invalidated, becoming a falling channel before breaking towards the upside. However, the first support level was hit, and if this is broken in the near future then the other support levels are still relevant. 👽
Disclaimer
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.