Smcconcepts
btc the daily horrible analysis lower prices look very real hi guys
just a quick overlook on the daily btc chart from ath horrible sight to see three bear flags one after the other inside of a falling wedge since atheach time we broke previous flags we had near enough the same drop of around 45% we have broke out of our latest flag are we going to see another 45% drop in price to the 14k mark its possible given the conditions we are in or even are we going to see a double bottom form at 17k then bounce do i think the bottom is in i dunno it looks unlikley whilst weve been in our recent bear flag we have had a msb creating an order block just below bear flag we are in that ob now and testing the .38 trend fib from recent drop from previous flag 19k is critical for us i think over the next week im hoping we can bounce if we do bounce id think we will make are way back to the top resistance level of bear flag not all at once also an inverse elliot wave predicts this move too hopefully bulls come back and sort the job out
or are we just clutching at straws
thanks guys scopes
UK100GBP AnalysisSetup Contains:
1. Bearish Structure
2. Break of Structures
3. Bearish Order Flow
4. Return To OrderBlock
5. Trendline Liquidity As Targets
FOLLOW PAFX & TRADE LIKE BANKS 💸
Bitcoin likely to go parabolic Hi traders, this is my bullish bias on BTC, If you watch Weekly TF you might notice that 34.4k was the last imbalance left with an Untested Order Block which was finally mitigated giving an end to the Bearish cycle (This is my personal view & not an investment advice) .. DYOR..
On 4h, now 35.6k is an untested zone and might become an accumulation zone soon for big players, better is to watch & see Bitcoin reaction off it 7 later buy on the retest. An Order block is effective only if you see reaction happening off it or it's just nothing, So be patient & hodl.
"Big Money is made sitting, not trading!"
