Formation of a massive bearish flag on HTF Bitcoin charts.

Title says it all. Price broke out at around $28,000. I would expect a breakout dump / downwards movement into the supply area in confluence with the bearish flag pattern targets between $17,000 and $18,000 (roughly the same percentage down as the breakout from above into the flag).

Please check linked idea for a more in depth supply vs. demand bearish sentiment and my short term view on Bitcoin's movement inside this channel / bearish flag.

Trade chiuso: obiettivo raggiunto:

Bounced from demand. Could very well be retested and possibly broken.