Price should bounce a bit before exiting pennant
. Plan is to buy when it hits long term uptrend line and sell when it hits top line of short term descending channel
. This appears to form a pennant
. If it breaks downward out of the pennant
, I'll sell and buy back when it hits the bottom line of the short term descending channel
. If it breaks upwards out of the pennant
, we should be heading towards new high for the year. Keep in mind, whales can break this strategy at any second, so regularly watch Whale Alert on Twitter
and hope that they don't try anything sneaky which flies under the radar. If a new high for the year will be set, it should happen before Tether & Bitfinance end up back in the news for any potential fallout from the NYAG case which we should hear more about in October. If the trade war between U.S. and China escalates, we could head towards that yearly high sooner rather than later.
PLEASE offer criticism and opinions.