Bitcoin Analysis==>> Bearish Flag Pattern

21 авг.

Bitcoin pulled back to the broken Support zone($60,520-$60,120), as I expected (in yesterday's post).

According to Elliott's wave theory, Bitcoin seems to have completed the Zigzag correction(ABC/5-3-5).

Regarding Classic Technical Analysis, Bitcoin seems to have formed a Bearish Flag Continuation Pattern.

I expect Bitcoin to fall again after breaking the Ascending Channel's lower line and the Support zone($58,500-$57,000).

Bad News: Since yesterday, 785 million dollars of Bitcoin and 75 million dollars of Bitcoin have been moved by the Mt.Gox exchange, which is a significant volume.

Note: If Bitcoin goes over $60,700, the Scenario will change.

Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.

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21 авг.

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In my opinion, Bitcoin's fall is still possible, although it is less likely due to its high momentum.

We can expect more falls if Bitcoin goes below the Support zone($60,520-$60,120).

If Bitcoin goes above $63,000, we have to wait for Bitcoin to pump up to $65,000.

A short position up to the minimum support zone is reasonable.

22 авг.

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First Target Done.

You can be risk-free and wait for the next targets.