BTCUSD- Are the Bears taking us down a level?

We have a change of trend (COT)on the lower time frames - a lower low than the previous low - this signals to me that we maybe seeing a deeper retracement. My plan shows a Bullflag or channel pattern. Usually, traders will wait for 3 strikes of the support before they buy. I analysed the price percentage increase of the last swing and projected the next leg 26.44% decrease in price - it coincides with the price extension of 127% of the first corrective wave after the rise and here we find a confluence of overlapping support and retracement levels. There are two possible scenarios as there are two fibs one for the entire move and a smaller one. I'm not sure which one will play out. I will be watching both levels indicated by my green lines for possible long positions.




Please use caution when you trade - the plans I create are my thoughts based on experience, they are not advice.
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BTC address: 15HB2vstnjdUw4RGcrikWTtW8aCK8DJCtj