Since my last post on the BTCUSD pair being in a bullish pennant (see image below), the price broke out and hit approximately 49,460. It has now formed again another bullish pennant (which typically breaks to the upside), with the target still being around 50,200. However, there seems to be some resistance at 49,380 (the red box). Wait to see the direction (up or down) of the breakout before placing a trade.
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