$BTC This looks bearish.



Yesterday, I pointed out the bear flag that had formed on the higher timeframes.

Now price has broken below the bear flag support and validated the breakout with a daily close below it.

This is extremely bearish, as it makes a sweep of the lows highly likely.

As explained before, the technical target of the pattern would be around 50k.

Let’s see where this takes us.
BTC-1.91%
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ByteSizedAlpha
· 2h ago
This trend reminds me of that wave last year, a flag followed by a sharp decline.
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EchoOfL2
· 2h ago
Waiting for a false breakout to recover, otherwise I might really have to mine at cost price.
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GateUser-8ca669fd
· 2h ago
Just broke below support, extremely bearish, are the sentiment indicators showing the opposite?
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ZkSketcher
· 2h ago
If the target is 50k, how many stop-loss positions need to be gone through in the middle?
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APeacockSpreadingItsTailLooks
· 2h ago
Daily chart confirmation, short-term rebounds are all shorting opportunities.
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PocketAlphaPia
· 2h ago
The bear flag breakdown indeed looks ugly, and the 50k target level is a bit far, but let's first see the previous low.
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