Short

BTC Panic Phase

Updated

27,8k was rejected and 27,5k was a strong resistance.

Looks like we going down to 24k... 20k.

An idea about incoming panic phase.

Wouldn't be surprised if we hit 10-12k to be honest.

Don't underestimate the drop power of this market.

Good luck.

Note

Very close to weekly MA200.
If we break it down bulls will be quite scared.

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Closer look on the daily chart you can see the MA100 in soft blue.
When this MA turns down, historically since birth, BTC drops everytime 15 to 50% .

Note

Looks like a bear flag

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85% drop from the top would be a quite normal % for a BTC bear market.

Note

Bear flag confirmed.

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Looks like another bear flag forming very similar to the previous above.

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Bear flag update

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We might not go so low as predicted but 26-25k is still a possibility.

Ma50 seems to be turning to the upside and pretending to finally cross the MA200 putting an end to the bear market.

Note

Crucial moment.
MACD crossed.
Bearish move.

Note

Update:

Note

We broke down the bear flag as predicted.

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This TA initial idea of an huge Head and Shoulder starting to take shape.

Note

We are touching the 24k.

Getting closer to MA200 daily as expected. It should be around 23,7k .

A strong bounce may happen in this area.

JacintoMonteiro

Also on:

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BTC: Head and Shoulders

by JacintoMonteiro

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