BTC Bearish Flag View

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BTC Bearish Flag ViewBTCUSDT Perpetual ContractBYBIT:BTCUSDT.PsabinaGMWe are seeing BTC on this Monday Doji close rejecting once again the 70K level and the weekly 200 EMA. Additionally, price is currently in a critical zone where H4 market structure has been broken, showing a potential bullish momentum picking up, after weekend price action managed to close above the daily bearish flag trendline ~65K, and currently consolidating within the current monthly open. My bearish scenario at the moment is the following: if we get an H4 close below 67K, this would invalidate the H4 MSB impulse candle, opening the path for a move back toward support / weekend lows around 65K, and potentially the development of a daily bearish flag. The bullish scenario would be a squeeze toward the daily 100 EMA, in the 78K–80K zone. On the montly we can see how March filled the FVG made in February, and finished closing as a potential inverted hammer. So March Low will be key, probably we will see some reaction if we get to that level soon.