This looks like the previous bear flag pattern. Now i noticed that we have a bearish divergence on the indicator. As i see it if BTC goes below the 50 day MA, we are most likely at least revisiting the lows and probably making new lows. The targets for the new lows are between 10 and 15k. Could happen very fast just like all the previous drops. We consolidate at a range for a month or two, everybody starts talking bullish again and waaam it hits you.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.