Hello everyone!
On today's topic we will talk about Bitcoin.
As we can see the price is forming a bearish pennant on the 4H timeframe after a nice push from bears, which at the moment they pull profits out
and now are consolidating creating a pennant and waiting to pull their trigger again so they can move freely to the downward.
At the moment price is sitting below 20,50,100 MA but the 200 MA is moving below this pennant which will be our confluence if price close below the pennant and 200 MA.
In my opinion the price will break below this pennant and take a downward to the 8200 region where it may find some support and push the price up.
Let's see how this plays out!
**The information disclosed here is for entertainment purposes only; it does not constitute investment advice. It cannot replace professional
investment advice**
On today's topic we will talk about Bitcoin.
As we can see the price is forming a bearish pennant on the 4H timeframe after a nice push from bears, which at the moment they pull profits out
and now are consolidating creating a pennant and waiting to pull their trigger again so they can move freely to the downward.
At the moment price is sitting below 20,50,100 MA but the 200 MA is moving below this pennant which will be our confluence if price close below the pennant and 200 MA.
In my opinion the price will break below this pennant and take a downward to the 8200 region where it may find some support and push the price up.
Let's see how this plays out!
**The information disclosed here is for entertainment purposes only; it does not constitute investment advice. It cannot replace professional
investment advice**
Trade closed: stop reached