Bullish pennant, next stop 10,800

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
After the rebound we are now consolidating just below the 50MA and a nice bullish pennant is forming confirmed by volume development.

A break on the downside is quite unlikely at this stage but it can see us retesting 9800 if this happens.

A more likely bullish breakout will lead us to a short term rebound to 10800 dollars.

For longer timeframes click below to the Cup and Handle analysis.

Trade safe.
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