Bitcoin / TetherUSPenjualan
Bitcoin - Bear flag and Fibonacci Channel Supports
In this chart I look at the Bear Flag formation that is looking to break and consider the downside projection to 11.8k seems very likely given the macro economic factors impacting the crypto markets at the moment. With unconfirmed support within reach now at around the 
12K level, there is also a technical reason in the chart for price to drop. Assuming support is found there, there are some notable lines of resistance that will need to be overcome, particularly around 18.3k and 21.5k. If price can recover and get above those levels, then the back of the Bear Market would seem to be broken, particularly so when we break through the top of the declining Fibonacci channel.
What do you think? Will Bitcoin fall lower before recovering, or is it time to moon?
12K level, there is also a technical reason in the chart for price to drop. Assuming support is found there, there are some notable lines of resistance that will need to be overcome, particularly around 18.3k and 21.5k. If price can recover and get above those levels, then the back of the Bear Market would seem to be broken, particularly so when we break through the top of the declining Fibonacci channel. What do you think? Will Bitcoin fall lower before recovering, or is it time to moon?
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