Bearish pennant ...down to $7200 short term if it plays out
I'm new at charting, so while it looks good to me
Comment:
The only problem with recent charting of Bitcoin is that the BCH guys are in a blood feud with BTC, a coup is being attempted with BCH trying to replace BTC as the official Bitcoin, so many of the normal TA and trends are just not valid because each side is trying to counter the others moves. Last weekend BTC got caught off guard and BCH went to $2800 from $300. Some good trades predicted a run, but not like that one. This is suppose to battle for about a month if needed to see who survives from what I have seen and read. So trade safely, and while i like this chart, just not sure. I emptied my bags here and shorted BTC at $7950, and I still hope the majority of traders I know are correct and we drop to the 5k area, but we should drop to at least the area I marked, maybe even a little lower.