A bearish flag pattern is formed on the BTC chart!
The whole market and BTC are bearish as you can see, However, I think this downtrend is near its end.
Flag patterns are so strong and they are continuation patterns. As you can see a bearish flag pattern has formed on the chart, So according to the breakout of this pattern and the weakness of the short-term uptrend(Which is a pullback), I expect to see another wave down.
This wave down can be continued up to $29,000 support zone according to the flag pattern target, But I prefer to consider the $33,500$ as the first TP and the $29,000 as the second TP.
As I told you, According to my experience this downtrend is near to its end and a pullback is needed. But before that a wave down up to lower supports is possible.
Flag patterns are so strong and they are continuation patterns. As you can see a bearish flag pattern has formed on the chart, So according to the breakout of this pattern and the weakness of the short-term uptrend(Which is a pullback), I expect to see another wave down.
This wave down can be continued up to $29,000 support zone according to the flag pattern target, But I prefer to consider the $33,500$ as the first TP and the $29,000 as the second TP.
As I told you, According to my experience this downtrend is near to its end and a pullback is needed. But before that a wave down up to lower supports is possible.
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