BTC Short Term Bearish Scenario

Hello,

There is a possible short term scenario for BTC.
There is a bear flag that is currently being printed in the chart with an extreme dump candle which engulfs several candles looking back.

Advantages in favor of this scenario:
1. Bearish Engulfing candle (red)
2. Bear flag formation (pink)
3. Retracement to the 61.8% and 78.6% region of the bearish fibs (red) very possible.
4. There is a vacuum in the volume profile that could act as a magnet for the price to retrace 61.8% and 78.6% region of the bull fibs. (green)
5. Awakening red volume candle which could activate a bearish movement.
6. Divergence in MACD
7. Divergence in RSI and OBV.

Disadvantages that do not favor this scenario:

1. Green volume candles in the bearflag retracement. Volume does not looks its dried up.
2. Trading at the POC (Point of Control in red) of the Volume profile which could easily continue trading at the current price with bull continuation.
3. Trend undecided.

At the end the market does not cares about patterns, it could easily invalidate the most beautiful scenario.
At the end it not exact science its just a game of probabilities based on patterns.

Do you think the price will continue its way up or will it correct? Comment below.

If you like this analysis please give it a like.
Thanks for taking your time in reading.

Robertus