A look at Bitcoin for the morning chart looks a little different that's because for whatever reason i have different charts on different loaded saved layouts. I don't know why that happens but i've had this chart it just looks different but either way you can see bottom to the top 618 to 28k so 28k is really the only price that i'm watching. A lot of people are coming in the live stream screaming bearish like you know that's just how it is i mean we've been going sideways for the past month.
We can't really say bullish or bearish because we're going sideways now obviously in the macro we're in a downtrend. So you can assume that it's bearish but until we break down below 28k we really can't call at the end of these. However you can see that this is a bear flag and the break below the 618 would not only put us below the 618. But it would also put us out of the bear flag. So i would imagine breaking 20k would be what sends us down much lower.
So technically speaking we still are in the flag so we could bounce back up to the upside and just like here until we get out until we get over 33k. We can't necessarily say that we're moving back up either because this is basically what happened up here even though i was like oh we're going to the moon obviously that wasn't the case but you can see that they are very similar in market structure. I really can't well me personally i'm still macro bullish but i don't think i don't consider it as bullish price action until we get over 36k and honestly 40k. I think until we get over 40k that we're just going sideways especially with that or down obviously but even with the again that this death cross is if you click moving average ribbons maybe people have other ones.
This is also something that i think we should be watching it's not here on Coinbase. If we go down to bitstamp here it is right here so if the bottom's already in then what's actually interesting would be we would need to see a bounce probably next week and these moving averages would need to bounce off of one another.
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