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$BTC Testing The 15min 200MA
A rejection of the 5th wave in the bearflag and/or the yellow 200MA, could result in a breakdown to $58,395 area.
If the bottom white trendline of the bearflag is broken the target of about $55K is activated.
Other Downside Targets
1) $57,018
2) $56,230
3) $55,006 (*Approx)
*Target is approximate until the breakdown occurs.
For a reversal to happen here price needs to get above the yellow 15-min 200MA, and the top bearflag trendline.
If price can get above the yellow 15-min 200MA. Price will test the 30-minute 200MA.
The 30Min 200MA is currently at $61,750.
NFA, DYOR ⚠️
*Edit fixed the picture was 30-minute timeframe. Now it's the 15min timeframe. 👍
#BTC #Crypto #Trading