Crypto Crash Today: Is Kevin Warsh Good for Bitcoin (BTC)?
BTC/USD 4H Chart (Binance) – Source: TradingView
Sell signals have been stacking up in the 4-hour chart. Yesterday, we warned that a bear flag pattern had been confirmed. Our bearish target for BTC at the time is $74,000, meaning a 12% downside risk.
The sell-off accelerated as the price dropped below a price channel that was starting to form in this lower time frame. Now, BTC is heading to retest the lower bound of this setup. A rejection of this line will likely confirm that the token is heading to lower lows.
The top crypto seems to have encountered strong support at its November 21 lows of $81,000, making this a short-term target if bearish momentum resumes.
That said, the Relative Strength Index (RSI) just hit oversold,…
