Bitcoin Analysis 4/10/22 Part 2 (Evening Star / Bear Flag)

BTCUSDT Perpetual Contract BYBIT:BTCUSDT

NeutronMan

Bitcoin appears to be forming a Bear Flag on the 4HR chart. The target of the Bear Flag is around 39k which is also the monthly S1 support line. Also, on the Weekly chart Bitcoin is forming an Evening Star Candlestick Pattern. Evening Stars are a bearish candlestick patterns, signaling we’ve already reached the top of this phase of the market cycle.

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