Like Sir John Templeton once said "Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria"
If this potential bear flag play out it will lead BTCUSD to the 78.6 Fibonacci Retracement. After a period of shorting I foresee a nice buy opportunity in the range of 5495 - 4943.
Market could retrace even more so don't forget to place your stop loss orders! ...like George Soros said "It's not how right or how wrong you are that matters but how much $ you make when right and how much you do not lose when wrong"
..:: This information is not a recommendation, it's only a personal idea. ::..