ðĨ Bitcoin Massive Bear Flag: Bearish Outlook
In my most recent BTC analysis I talked about my short-term view on BTC. In this analysis, I want to focus more on the longer term price action which we can expect on the coming months.
Seeing that the macro economic environment is more likely to worsen instead of getting better, a bearish near future is more likely than a bullish one. Be aware we can either retest the top resistance, or fall through the support in the near future. Key takeaway is the bearish break out.
As it appears, Bitcoin is following an almost perfect bear flag pattern. These patterns are classically bearish continuation patterns. I wouldn't be surprised if we're going all the way to $29k in the coming weeks.
What do you think?
Seeing that the macro economic environment is more likely to worsen instead of getting better, a bearish near future is more likely than a bullish one. Be aware we can either retest the top resistance, or fall through the support in the near future. Key takeaway is the bearish break out.
As it appears, Bitcoin is following an almost perfect bear flag pattern. These patterns are classically bearish continuation patterns. I wouldn't be surprised if we're going all the way to $29k in the coming weeks.
What do you think?
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