Bitcoin Short

Feb 15, 2021

There are some interesting things shaping up on this chart. We are currently retesting a previous area of support on the hourly which may serve as resistance. If this plays out, then perhaps the bear flag will send us to the 1st target level which sits at the 38% fibs level. Our 2nd target sits at the 50% level while the 3rd is a combination of the 61% and 78% region. If this plays out, our BART Simpson pattern will be completed. We could also see 50k being hit first before correcting. This still can be part of the overall pattern.