Re: [Chart] Worst Case Bear Flag Extrapolation & BTFD Scenario (29.02)
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?
Personally I still see it as a bear flag that we negated by breaking to the upside
Getting rejected at current (200 Day MA) prices would likely create another bear flag struture on the 4hr imo. I do see the argument for a falling wedge, but there are more points of contact with candle bodies from a flag imo. In the same way a descending triangle could be
PS - I did see your post previously on your thread after posting, always appreciate your input in mine though
