₿ Bitcoin Moment Before Fall ₿

17. Jan. 2023

₿ Bitcoin Moment Before Fall

₿ Nearest strong support zone: around the 0.236 level of the upward wave.

₿ Nearest strong resistance zone: around recent highs.

₿ Technical environment:

- Moving averages: Uptrend

- MACD: Downtrend

- RSI: Uptrend

₿ Price action: Bitcoin over the past few days has no desire to continue the uptrend, exactly as I wrote in the last post, it started forming a flag formation. The only thing I can expect from such a formation at this point (after such a strong breakout) is an imminent downward crash. The closest target is the fibo level of 0.236 of the upward wave.

₿ The scenario I'm playing out is a breakout from the flag formation to the bottom. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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