FX.co ★ #Bitcoin chart analysis

Price is stuck in a dead zone around 79636 after a powerful dump from the peak 82274. The current consolidation looks like a classic flag before continuation of the downward movement, 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 a corrective move, and the market is now searching for a new bottom to reset. Current levels provide no support for the bulls, who cannot even mount minimal resistance. I'm waiting for a decisive break down to the base of the entire move at 77431 from current levels.