Bear flag still in play
After a disgusting fake-out BTC has settled back into the bear flag pattern finding support at the bottom. 16800 has been a key level of support and resistance having back-tested it and confirming resistance yet again. Bears have momentum, USD finding support and potentially reversing adds selling pressure. Im expecting a breakout lower is imminent, possibly even today. The target of the bear flag pattern and the previous descending triangle is down at around 11500.
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