Massive Bull Flag? or Correction to 53k?

1 thg 11, 2021

Are we inside a massive bull flag? or are we going to break down to 53k?

This formation has played out many times over the years for Bitcoin. A measured move of this breakout to the upside fits perfectly to the 1.618 FIb retracement , very interesting , but on the other hand we have touched the bottom support four times showing a sign of weakness in this potential flag formation.

The second option is the one I have been going over plenty of times and that is Bitcoin pulling back one more time to the 0.618 before heading up , if this happens it will confirm everything I have been posting and it is more likely that we get a cycle peak sometime April 2022.

A 10k dump right now would liquidate all those long positions and create mass fear in the market. What better way to start the final run of the bull market with mass fear!