BTC Bear flag??

It looks like BTC is going down to 7.8k which will provide a really strong support. To me, it is almost certain it has formed a bearish flag on the 4H timeframe as it has failed to stay above the 0.236 fib level! as we hit the support level at 7.8k we should see a healthy bounce back up to the 0.236 fib level, as the RSI on the 1D is gradually reaching the oversold zone, so this one shouldn't be a catastrophic deep. Also every year after the consensus conference there is a huge increase in fiat flow in the crypto space which should gain a good momentum for BTC to start the real bull run. Also right now the rsi have broken the previous support which is another bearish signal, stoch rsi same story, tk cross from the overbought area in the 4h timeframe. I am not too concern as i still believe fundamentals are strong and they should support the incoming rally.Also on the 1D timeframe, we got a mix of bullish signals which keeps me optimistic. Short-term bearish, mid-term bullish, long-term bullish AF.
cryptodunk