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In times like this, this where pattern analysis is needed
We are at a point of 2 paths: either we're on a wave 3 up, on still on wave 2 down.
This is the point where people can lose the most money. If you're sold, you can lose buy having to buy back BTC at a much higher price. If you've bought in, the price could drop.
In cases like this where Elliot Wave can't help, it\s good to draw trend lines and channels. It looks like we are in a bear flag, and BTC is pretty good at obeying the rules of flags IMO. However, I have also found that BTC can obey a flag and then enter the opposite flag pattern.
This is the point where people can lose the most money. If you're sold, you can lose buy having to buy back BTC at a much higher price. If you've bought in, the price could drop.
In cases like this where Elliot Wave can't help, it\s good to draw trend lines and channels. It looks like we are in a bear flag, and BTC is pretty good at obeying the rules of flags IMO. However, I have also found that BTC can obey a flag and then enter the opposite flag pattern.
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