BTCUSD is at the end of the FLag pattern, probably going down

2023年8月3日

As you can see right now BTC is in the Flag pattern. Beginning from 15th of June and 24800 and till 31200 (this is a stick of the flag). What does it mean? That as soon as the graphic will cross the borders of the FLag itself (started at 23rd of June and till now) in any side, the movement to this side will be 3/4 of the stick (around 4800). At the moment looks like we are still inside the flag (the flag is going a bit down), so we have to wait. But what if this is the wrong flag? Maybe the real flag is the horizontal lines at 29800 and 31300. In such case we are already going down, as you can see there were already some bounces from 29800. In such scenario, we should open down and hold till 29800-4800 = 25000. But to make sure wait till the BTCUSD will cross the lower border of the channel (around 28500). Also keep in mind that if it is still above 28500, BTCUSD can go up. So it seems to me in a week or two: BTCUSD will cross the channel borders and everything will be clear. Pay attention to tomorrow's Non-Farm payrolls. Good Luck!