Bitcoin trades in bearish flag and can fall down this/next weak!

6 окт. 2022 г.

Hello TradingView community and my subscribers, please if you like ideas do not forget to support it with your like and comment, thank you so much and we will start.

Today I want talk with you about BTC chart.

To tell honest now is very difficult situation for crypto and other financial markets.

Now bitcoin being in bearish pattern flag which can push price much lower.

At this moment bitcoin trades close to top part of bearish flag.

I think we still can see another upward impulse to resistance line in area 20800-20900 USD.

And then bitcoin can starts to decline.

First intermediate target zone in mid term picture is zone 19350-18850 which close to support line of flag.

Then I think bitcoin can trades some time 3-7 day on support line and in the end break it down.

When bitcoin will breakdown bearish flag I think price will going to fall.

And next possible mid-long term target is zone 16500-15500 USD.

It's bad scenario and maybe bitcoin price will show strong upward impulse.

But for now the cryptocurrency market and bitcoin looks very sad.

Hope for the best, expect the worst.

So, I'm waiting for this scenario.

This is my opinion, I really hope this will be useful for you.

Be ready and take care your money. Have a great profit!