🔥 Bitcoin Bearish Break Out Confirmed: More Selling Incoming
Two days ago I made a short-term analysis on BTC and the bearish breakout of the channel. As of today, both bearish targets have been hit. Congratulations if you took the trade.
In all fairness, the chart looks very bearish. This current trading pattern will likely end up being a bear-flag, making new bear-market lows a big probability, especially with the overly negative reaction to the most recent FED meeting.
For now, I'm looking at the yellow support area as a target. If we make new lows, I'm looking at $14,500 and $14,000 short-term targets.
In all fairness, the chart looks very bearish. This current trading pattern will likely end up being a bear-flag, making new bear-market lows a big probability, especially with the overly negative reaction to the most recent FED meeting.
For now, I'm looking at the yellow support area as a target. If we make new lows, I'm looking at $14,500 and $14,000 short-term targets.
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