📉 Flagpole: clearly visible by the sharp drop from the previous upper channel.
🟨 Flag (rising channel): The price is consolidating upwards within an ascending channel (yellow area).
🔴 Channel Support: The lower red trend line acts as dynamic support.
🟡Channel resistance: The upper limit acts as a dynamic resistance.
It is worth noting that this pattern appears twice (fractal behavior):
1. First channel → collapse → continue to decline
2. The second (current) channel → will likely repeat the same structure
This reinforces the recurring bearish structure in the market.
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📍Main levels
🔴Current channel support: ±2000$
🟡Strong support area: $1,930 – $1,830
⚠️ Key support below: $1,743
🟢 Channel resistance: ± $2,300 – $2,500
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🔴 Bearish scenario (higher probability)
📉 Bearish Confirmation:
Breakdown below channel support (red trend line)
Daily candle closes below $2000
🎯 Negative goals:
$1,930
$1,830
$1,743 (major support/previous low)
💡 If the bear flag is confirmed, the move may extend similar to the previous flagpole (bearish continuation).
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🟢 Bullish scenario (bearish invalidation)
📈 Bullish confirmation:
Breakout above channel resistance (upper yellow line)
Strong daily close above $2,300
🎯 Rising goals:
$2400
$2600
💡This breakout will invalidate the bear flag and potentially turn the structure into a reversal or at least a comfortable rally.
—
⚠️ Conclusion
The current structure strongly indicates a continuation of the downtrend, supported by the following:
Fit bear flag pattern
Lower elevated structure
Repeating fractional behavior
As long as the price remains within the ascending channel, this is likely to be just a temporary consolidation before another potential decline.
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