BTC – 05 May 2022

Bitcoin / TetherUS BINANCE:BTCUSDT

andryj

BTC

Pattern: Bear Flag
Condition: Finishing the wave D and going to wave E
Expectation: Expecting the Wave E would be Ascending Wedge , where it could possibly force to market capitulation or worst.
Invalidation: BTC break resistance and make base on top of the channel.
Reason: after FOMC, and FED rate increase to 1%, overall market is rebound, but DXY still holding above resistance 6y, and found support (invalidate if DXY break support and drop again).

Position Short-Mid Term: Bullish
Position Long Term: Bearish

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