BTCEUR - Bear Flag, Short Position (7.150 to 6.080 EUR, -14,56%)BTCEUR - Into Bear Flag, Previsione for a Short Position from 7.150 EUR to 6.080 EUR, (-14,56%)
BTC comes out of a very marked flag of about 73 days.
The output, about the movement that took place later, clearly defined a FLAG POLE and a fairly marked BEAR FLAG is emerging which is now 26 days.
By performing the FIBONACCI tracing on the flag pole and reporting the values on the output FLAG PATTERN you can highlight the TARGET LEVELS of the SHORT POSITION in ENTRY and EXIT.
In the forecast, an imminent exit from the BTC BEAR FLAG is simulated at around 7,150 Eur.
1. Entry into SHORT at 7,150 EUR.
2. Monitoring of historical support at EUR 6,774.
3. Target 1 to 6.080 EUR ÷ Target 2 to 5.611 EUR.
The FIBONACCI tracing signals the target level around EUR 6,080 equal to - 14.56%. Also possible a second target at EUR 5.611 defined by the width of the FLAG POLE.
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