Bitcoin looking bear

11 Oca 2019

Just some quick thoughts. It seems pretty obvious BTC has gone bearish and I don't see it changing anytime soon. From what I can see we have not only a bear flag formation but also a possible head and shoulders pattern taking place. Both are bad so im sitting on the sidelines for now. I think we are going to go back down and retest the 3150 support. Which I think will hold. The market is clearly in a transition stage from bear to bull but it doesn't happen over night. This could take weeks if not months. If it does retest the 3150 2018 low it would be then forming a nice double bottom and what should be a nice bounce up!!
Happy Friday!! Good luck trading.