BTC Bear Flag breakdown at 5 May 2022, since then price action showing down trend continuation from the bear flag.
Calculating the Pole before Flag, with 2 possibility:
1) 100% from D, so the next target to be reach probably around 23k-24k. Confluence with trend Fibonacci 1.272
2) 100% from E, so the next target to be reach probably around 18-19k. Confluence with trend Fibonacci 1.414
trend Fibonaci taken from top 10 Nov 2021, bottom 24 Jan 2022, pullback 28 Mar 2022
Please be cautious with the bounce due, it could be a BULL trap, where usually happen during down trend.
Calculating the Pole before Flag, with 2 possibility:
1) 100% from D, so the next target to be reach probably around 23k-24k. Confluence with trend Fibonacci 1.272
2) 100% from E, so the next target to be reach probably around 18-19k. Confluence with trend Fibonacci 1.414
trend Fibonaci taken from top 10 Nov 2021, bottom 24 Jan 2022, pullback 28 Mar 2022
Please be cautious with the bounce due, it could be a BULL trap, where usually happen during down trend.
Comment:
CLOSED, TARGET ACHIEVED 18258