Hey guys, don't mean to spread fud, but it's important to remain emotionless in trading, and to stay objective, regardless of how bullish you are (like me!!)
Right now, bitcoin is in a very crucial area. If it fails here (which it hasn't yet), the next downside target is $5000, based on the flag pole of this latest bear flag formation.
Things to notice:
It fell out of the bottom of the bear flag.
It got rejected by the bear trend channel thats been there this whole move down.
Its been rejected by the 4 hour 50 ema.
I'll be exiting the market if bitcoin starts showing aggressive downward momentum in the $7,500 area.
P.S. I own XRP and cindicator. I'll be staying in my positions if I see xrp/btc and cnd/btc charts remaining bullish.
Stay Safe!