Bearish overview; Could we see more downside move?

May 12, 2021

In Daily timeframe, Rising Wedge Already Broken Downside
At the Moment, Bitcoin is Consolidating in Bearish Flag.

If Flag Broken down too, Expecting Another Bearish Wave towards the Support Area (42k).

So Far Bitcoin Looking Horrible so Don't Catch the Falling Knife, We Could See More Downside Move

May 12, 2021

Note

The Parabolic Curve pattern is a curved line pattern that is formed by following a candlestick formation when prices rise or decline rapidly. Visually, the curved line pattern follows the correction points. The lay language, when the price forms a pattern like a staircase, the curved line follows the base on the steps.
Parabolic Curve patterns are generally found when the market is in panic-buying or panic-selling conditions. That is, the price moves to one direction in a short time because it is driven by the dominance of the seller or buyer. In these conditions, the opportunity to gain profits is wide open, especially when the price moves to break through the curved line pattern.

In essence, the pattern of Parabolic Curve indicates the point where prices will begin to approach saturation (overbought or oversold). If the price has touched its saturation point, the price opportunity to reverse direction will be even greate

Price climb very fast in a very short period. Chart gradient is more than 45 degree when you zoom out the chart by expanding the time frame.

When the chart breakdown, the price plunges close to 50% Fibonacci Retracement Level within one or two months

May 12, 2021

Note

What Is the Pattern of a Parabolic Curve?

May 12, 2021

Note

May 13, 2021

Trade active

Bearish flag Already Broken Downside