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The Grill Sergeant
@grillsergeant
BTC Nothing changed from previous post. This is a bearish flag pattern going right into resistance. Probabilities favor rejection soon. Confirmation above that trend line will be the first step toward getting back to a bull run. Looking at the weekly chart. The 74Kish level for a retrace feels a little too obvious at this point, so I want to consider some other possibilities. A) The low is already in and 74K level was front run leaving many orders unfilled in that area. In this case, a pull back to just under 80K creating a higher low than the March low is very possible before breaking through the downward trend. If the March low is lost, then one of the possibilities below becomes much more probable. B) The 74K level gets blasted through on a quick move below 70K. C) Choppy down trend continues. I could see the top of the pink zone getting retested or the yellow trend line which started in December 2022 getting tapped. These two intersect at around $61,500.
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The Grill Sergeant
@grillsergeant
Without some major economic or crypto crash event, I don't see it going lower than that.
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