Bear Flag Under Resistance
BTC/USD COINBASE:BTCUSD
Bitcoin forming a bear flag underneath resistance. Four above average volume down days vs two up days in this bear flag . Think we likely break down and retest the wick lows, but I think we get an “undercut and rally”. Keep in mind there’s big support at the 200wma, which is currently ~$22K.
This should coincide with the QQQ taking another mini leg down (SNAP down 28% AH on weak guidance, dragging tech down AH). Expecting a sizable bear market rally to follow given how oversold we are and will be at that point.
