Double Bear Flag on Eth, are we in the death throws.

Okay Death throws may be a little dramatic, we have a large bear flag/pennant forming on the daily chart but more important is the smaller flag that is well formed on the hourly, if this breaks down it will test the major trend line support at the bottom of the channel at around $728 from there we could see the daily flag break and free fall down to around $200-$300. I guess we will need to watch bitcoin, as it should bounce off around 9200 mark and head back up, this may stop the fall and the bulls make prevent it.

Good Trading, Good Luck.