#BTC
A new scenario is unfolding: The bearish flag pattern is beginning to emerge in the market; a move to 9.8 is expected, with limit orders at 9.4!
(The last warning about the daily chart's ending pattern was at the end of August.)
Just as we anticipated an upward move towards 11.5-11.7 a few days ago, while simultaneously initiating a pullback and preparing for a larger-scale consolidation within the 10.3-11.7 range, the current 4-hour chart is already showing an initial bearish flag structure.
With a structure comes opportunities to participate. Here's a summary of short-term trading strategies:
Wedge structure: Enter long or short positions along the upper and lower edges. Enter on a break below and subsequent pullback; enter on a breakout and subsequent pullback.
1. Upper edge of the wedge: 11.7; lower edge: 11. Enter long or short positions closer to the upper or lower edge. Exit on a breakout or break below.
2. Break below and then pull back to the resistance level. Enter on a pullback to the resistance level (a quick reversal doesn't count; consider a reversal).
3. Break above 11.7, then enter on a pullback to support around 11.65. A breakout followed by a pullback is a false breakout.
4. Support around 10.62 (lower trendline support) can be used for short-term trading. However, this support is weak, and if it breaks below, the next target is likely 9.8, 9.4, or 9.2 (a cycle level). Wait for the right entry point.









