#BTCUSDT is forming a massive Bearish Flag on multiple time frames.

Not expecting this to play out in short term but is possible midterm play unless FED moves aggressively with the rate hike(s). It is a possibility with economic indicators such as employment numbers coming in good. We should also note that FED chair Powell had spoke highly of P. Volcker in his last appearance.

Additionally, there are rumors of Russian oligarchs moving into cryptos to circumvent sanctions due to Ukraine-Russia war. If that is true, there could be a sell off in cryptos ( esp . BTC & ETH) to punish these oligarchs.

If and when it plays out, can expect BTC to be below 20K.

* Not a financial advice. Please do your own DD.

Thank you for your support.

#BTC #ETH #chartanalysis #bearflag