BitcoinShort
BTC 4H Bear Flag and Head and Shoulders
Bitcoin found support and has hit my PRICE TARGET of 32K. The trend is forming a 4HR BEAR FLAG in conjunction with a massive BEARISH HEAD and SHOULDERS pattern that appears more clearly on the higher time frames. We are currently testing the bottom of a sideways range between 40k and 30k. If the 4HR BEAR FLAG plays out and takes us BELOW this level of SUPPORT we are likely to test the prior ATH at around 20k. RSI is reaching close to over sold levels at around the 30 band. While this indicates an eventual bounce, we are seeing strong momentum that can take us lower. We are clearly still SHORT on the SUPERTREND and we are BELOW the 200 EMA. Stay cautious ladies and gents!
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