BTC Ascending triangle or a bear flag breakout?
I'm looking at BTC chart in multi- timeframe. BTC broke symmetrical triangle, formed an ascending triangle but rejected at the resistance level 22.5-22.8K. Today BTC retested symmetrical triangle trendline and can bounce, or it can touch the lower slope of ascending triangle before major bounce. There is a warning sign as well. BTC has formed a gigantic bear flag with the target 11K. If it breaks down the blue parallel channel or Ascending triangle , A bear flag mode will be activated and more likely it will dump to cause a final capitulation.
I give 75% probability to a scenario A and 25% -B based on my previous published analysis. You can also check them to understand why I'm more bullish than bearish.
I give 75% probability to a scenario A and 25% -B based on my previous published analysis. You can also check them to understand why I'm more bullish than bearish.
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