BTC Flagging

1. Forming a bearish flag
2. Elliot wave: Price could reach wave C (Fib 0.38%) before dropping down to 8480 (Fib 1.618%)
3. RSI on 2H & 1D chart hidden divergence = Bearish
4. MACD below 0 = Bearish
5. Volume: No confirmation yet


#Macro related could justify the drop:
Although many believe BTC is a non-correlated asset, it is still not immune to a liquidity crisis. which we could see if economic bad data is published. Remember ALL Related to Dollar, Any rise in DXY is a bearish sign (for now I think):
BAD NEWS unsolved: No stimulus package from Congress, possible 2nd wave.

other related News this week :
Core Retail Sales
Retail sales
FOMC statements, press conference and economic projection
Feds Fund rate
unemployment claims


This is for educational purposes only, not intended as financial advice.