BTC Bear Flag + H&S
BTC has fell under the trendline on the Volume Indicator - we could see on the 1 hour and 15 minutes that this was a bulltrap, so we shorted 40.5k-40.8k
We also see multiple BARTs around this level, which is basically distribution by whales at higher points (exit pump to also trap retail and grab liquidity).
Based on the original impulse of the broken structure, and percentage drop of the bear flag, this next move should take us towards 35.8k-36.2k. Perhaps the 8.618?
This idea will be invalidated if the Bear Flag is broken towards the upside, and above 41k.
Current resistance is 40.5k
We also see multiple BARTs around this level, which is basically distribution by whales at higher points (exit pump to also trap retail and grab liquidity).
Based on the original impulse of the broken structure, and percentage drop of the bear flag, this next move should take us towards 35.8k-36.2k. Perhaps the 8.618?
This idea will be invalidated if the Bear Flag is broken towards the upside, and above 41k.
Current resistance is 40.5k
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