Bitcoin to $46k - Bear flag

** Short term analysis **

A bear flag print will confirm by Thursday 5th of September should price action fail to regain market structure support.

The target is $46k..

Remind me in the comments below by Thursday close to check structure!

Is it possible price action recovers structure? Sure.
Is it probable? Not on this time frame.

Ww

Trade active

Sell today..
Or become a bag holder tomorrow..

Trade closed: stop reached

Price action needed to close above 59.5k for 4 days on this time frame of the original chart to void the idea.This is now confirmed, the 2 day bear flag is now void.

Sorry bears. Better luck next time.

Note

PS: 68.5k is the next resistance.

Note

Maybe the resistance level was 66.6k !!

Selling it all before it goes to 0 seems to be the modus operandi.

For those of you who don't know, this is a capitulation and a buying opportunity.

Note

Looks like a visit to 57-58k is next up on the sellers menu:

Note

A visit to 58k occurred if not briefly, what next?

I know what I see, a rising wedge with breakdown confirmation. A forecast to is indicated.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on:

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.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on: