After breaking the downwards trend to the upside, the $BTC price has crashed back down into the wedge , forming a small bear flag inside. IMO this is showing that the mid-term pattern that $BTC has been in will break to the downside. This will possibly be a big “fake-out” for bears and might cause some sort of a short-squeeze situation. In anticipation of that, I have charted out these possible bounce levels, ranging from ~$26K to ~$28K. I have done this, using the macro Fibonacci Retracement levels, the Fib levels of the most recent short-term wave, and 0.618 Fib levels which sit between 1 & 1.618 of each Fib Range in a “scaling down” method. (It was way too busy to leave on the chart, but imagine Russian dolls. 1 Fib range inside another, inside another, etc.)
Important “possible-bottom” levels:
$27,550
$27,071
$26,531
$26,200
$25,982
***This is my own opinion, based on chart data. Not Financial Advice!***
