BTCUSDT – BEAR FLAG BREAKING TO THE DOWNSIDE?

BTC/USD COINBASE:BTCUSD

BlokBox

We have published this idea back in early March.

BTCUSDT bearish flag is possibly breaking down and playing out as expected. Would expect a retrace to ~$38K before it continues its downward movement. Major support around $30K.

FED move to reduce balance sheet (QT – taking liquidity out of the market) will keep pressure on the risk assets. Cryptos are moving in sync with tech sector/Nasdaq. Expect more downside in cryptos & overall market until QT ends.

* Not financial advice; Do your own DD.

Thank you for your time.

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