FX.co ★ teagan.orn | #Bitcoin chart analysis

Price has stalled in a dead zone around 79636 after a sharp sell-off from the high of 82274. The current consolidation looks like a classic flag before continuation of the downtrend, where buyers have completely exhausted their strength on weak bounces. Market structure remains bearish after the break of key support 80656. The parabolic impulse up has been fully retraced by the correction, and the market is now searching for a new bottom to reset. Current levels provide no support for bulls, who cannot even mount minimal resistance. I expect a confident break down to the base of the entire move at 77431 from current levels.