source avatarNova

Share
Share IconShare IconShare IconShare IconShare IconShare IconCopy

While there is always room for a first, we've never really had a CLEAN bear flag like this one that resulted in being the bottom. Especially not in this short of a duration (history has more stretched out patterns but also longer in length). So the bottom isn't in? Well, it still could. From a technical perspective there's nothing really that already says we have a confirmed bottom. But it could still IF the market ends up BREAKING the bear flag but actually NOT making new lows. Chart example 1 (see drawing below for reference): Most bottom patterns actually start with being a bear flag (big move down starting with a smaller move up). But then they come to revisit the lows, show strength and accumulate and show willingness that the bottom might actually be in. Chart example 2 (see drawing below for reference): OR it simply is not in yet and you just break the bear flag and make new lows like in a normal downtrend (which we are still in as of TODAY price action wise). But the most unlikely path forward according to history? Up-only from here with the current pattern. Some say macro is super bullish, others say it's bearish. But from where I'm at I don't see any god candles loading either with the current tentions and how they are. We've seen Bitcoin isn't immune to that either. Each to their own ofcourse. But that's where I'm at with the current state of things and data presented.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.