BTC - Smaller Bear Flag Forming

5 Sep 2022

Here is the 30 minute timeframe. After breaking down, we have consolidated around this price range creating a symmetrical triangle. Since we came off of a downtrend another leg to the downside is more probable. If we close below our line of support (green arrows) then our measured move is around $18,600. If we take the measured move of the smaller bear flag then the price target would be $17,600. If we are able to break above our trend line of resistance (red arrows) then the measured move is around $20,700 and would negate this pattern.