Price is forming a textbook bear flag following the sharp drop from ~108.8K.
The structure shows rising lows in a tight channel, typically a pause before further downside.
📉 Bear Flag Anatomy:
Breakdown support: ~104,000
Measured move target: 98,810
RSI: 49.94 — hovering just below neutral, watch for dip <40 for breakdown confirmation.
Volume: Still low — waiting for a spike to confirm supply pressure.
🧨 Trigger Conditions:
4H close below flag support
RSI < 40
Volume spike above 20-bar average (~1.96M)
🎯 Short Plan:
Entry: Rejection from the fib golden pocket or flag support breakdown
TP: 98,800 (pattern target, confluence with prior support)
🔍 If confirmed, this breakdown could mark the start of a Phase E markdown in Wyckoff terms.
💬 Let me know your thoughts below — are you shorting this flag or expecting a fakeout?
#BTC #Bitcoin #CryptoTrading #BearFlag #ShortSetup #Wyckoff #PriceAction #4HChart
The structure shows rising lows in a tight channel, typically a pause before further downside.
📉 Bear Flag Anatomy:
Breakdown support: ~104,000
Measured move target: 98,810
RSI: 49.94 — hovering just below neutral, watch for dip <40 for breakdown confirmation.
Volume: Still low — waiting for a spike to confirm supply pressure.
🧨 Trigger Conditions:
4H close below flag support
RSI < 40
Volume spike above 20-bar average (~1.96M)
🎯 Short Plan:
Entry: Rejection from the fib golden pocket or flag support breakdown
TP: 98,800 (pattern target, confluence with prior support)
🔍 If confirmed, this breakdown could mark the start of a Phase E markdown in Wyckoff terms.
💬 Let me know your thoughts below — are you shorting this flag or expecting a fakeout?
#BTC #Bitcoin #CryptoTrading #BearFlag #ShortSetup #Wyckoff #PriceAction #4HChart
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Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
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.