Not a bear flag anymore n still inside the channel on the weekly
According to the dow model, a bear flag is disconfigured after 3 weeks. And it looks like this is the case.
Even though we have a clear upward channel being respected on the weekly, I only see all that as a huge lateralization.
BTC now have space to retest the upside of the channel again, trying to reach the control point at 52k maybe.
But with the slow volume and bear market being confirmed in the Stocks, we might see a long period of lateralization before any major move.
Let´s see how the S&P moves today, it could trigger more downside action, but if the S&P holds 4200 and starts to pull back, BTC
will retest the upside of the channel on my opinion.
Even though we have a clear upward channel being respected on the weekly, I only see all that as a huge lateralization.
BTC now have space to retest the upside of the channel again, trying to reach the control point at 52k maybe.
But with the slow volume and bear market being confirmed in the Stocks, we might see a long period of lateralization before any major move.
Let´s see how the S&P moves today, it could trigger more downside action, but if the S&P holds 4200 and starts to pull back, BTC
will retest the upside of the channel on my opinion.
