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HayeTrading
Jan 28, 2022 11:26 AM

BTC Bear Flag - Continuation Down Short

BTC Perpetual Futures ContractBinance

Description

BTC is still in a strong downtrend, with the most recent attempt at a reversal failing to gain steam. Price has created a small parallel channel up off the lows - a textbook Bearish Flag pattern.

Expect the see a break below the lower boundary of this channel for a bearish continuation.

A break below the swing low would be confirmation of continuation of the downtrend.

Still aiming for the big psychological level of 30k mentioned in previous ideas in the charts below - in a downtrend like this, these big round numbers tend to act like magnets. Remaining patient.




Comments
MadWhale
agree with u
HayeTrading
@MadWhale, Thanks for the comment 👍
UnknownUnicorn30166074
By the way, next time add Support/Resistance line. We are learning a lot from you
HayeTrading
@osagiedejohn01, Suggestion noted, cheers 👍
UnknownUnicorn30166074
Sometimes I look at the pattern and I can’t find any pattern and I just run to see other peeps chart 😂😂
HayeTrading
@osagiedejohn01, Haha no shame in that mate, that's why we all share ideas 👍
Mrhavana001
@osagiedejohn01, hilarious!!
we all do it
Helical_Trades
Good work man
Tanks for sharing ...
HayeTrading
@Helical_Trades, Cheers bud 👍
jojofang0901
Quite possible for further downside
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