Post
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$BTC , zoomed out
Bluechip
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$BTC - Below the Channel
9 hours until the daily candle close.
There's two ways this could play out:
1. This could turn out to be a deviation (just like the earlier one), or
2. It could confirm a break down below the channel of the bear flag (a bear flag is a continuation pattern).
Scenario #1:
Honestly, I think if we do get a deviation and pull back into the channel, it's just a matter of time before it breaks down later. We are in a bear market and the trend is down.
Scenario #2:
A break down would minimally re-visit the $60k lows and likely break down to at least the $50k's after that.
9 hours until the daily candle close.
There's two ways this could play out:
1. This could turn out to be a deviation (just like the earlier one), or
2. It could confirm a break down below the channel of the bear flag (a bear flag is a continuation pattern).
Scenario #1:
Honestly, I think if we do get a deviation and pull back into the channel, it's just a matter of time before it breaks down later. We are in a bear market and the trend is down.
Scenario #2:
A break down would minimally re-visit the $60k lows and likely break down to at least the $50k's after that.