The drop in BTC’s price had caused it to break below the 9 EMA line and 20 EMA line on its 4-hour chart, which also caused the two EMA lines to cross – triggering a bearish flag. During this drop, BTC had plummeted all the way down to a low of $26,374, but was able to recover and close the 4-hour candle back above the $26.5K support at $26,755.