On the daily BTC is sending contradicting signals. On the bearish scope , a bear flag pattern has formed which is a reliable signal that the trend will continue downward. But as the flag pattern formed there is also a falling wedge formation which is a very bullish signal, about 63% of the time the market trends upwards. We most take into consideration, inflation , Ukraine and Fed policy have played a huge part in downward movement, right now the path of least resistance is downward because there is big resistance around the $ 42,000 dollar area. We will have to wait and see what happens but most likely bitcoin will test lows it hasn’t tested since July 2021 when it was sub $30,000 dollars where it will meet strong support at the $29,000 area.

If you like or don’t like my idea please feel free to comment, I would like to read your take on things.