btc getting short with bearish flag pattern
2024-10-10

We’ve just identified a bearish flag pattern in the Bitcoin chart, signaling a potential continuation of the downtrend. The pattern began with a sharp downward move, forming the flagpole, followed by a period of consolidation, where the price moved sideways in a tight, upward-sloping range, creating the flag.

The pattern is now confirmed, as the price has broken below the lower trendline of the flag, accompanied by a noticeable increase in selling volume. This confirms a bearish continuation, which typically leads to further downward momentum.

Target Projection: Based on the size of the flagpole, the projected target for this move is around  , suggesting the possibility of further price declines in the short term. As always, proper risk management and careful observation of market conditions are essential.