Post
Topic
Board Speculation
Re: [Chart] Worst Case Bear Flag Extrapolation & BTFD Scenario (29.02)
by
exstasie
on 02/03/2020, 10:31:39 UTC
Bear flag on 4hr time-frame, vs bullish support on longer-term time-frames. This extrapolation would be a breakdown of the bear flag targeting around $7.4K and again testing the previous maro bull flag resistance turned support trend-line, before continuing the bullish rally to $11.5K. The 4hr RSI remains oversold* is in bearish territory while struggling to leave these conditions, indicating room to fall lower.

Bear flag or falling wedge? Smiley

Could this be a (bullish) falling wedge?



The EW analyst in me wants another leg down to complete the Wave 5 throw-over:



Either way, I consider it a bullish pattern. We're due for a big bounce.