Watching a pennant formation that has been forming for almost a month. Looking to buy in 14k to 13k range. Will spread bids while away and otherwise be looking for a flush to support which I expect once 14k on GDAX breaks. BTC is clearly undecided at this point and we need to be ready for a movement in any direction but risk in this range seems limited. Will be setting stops near 12.5k.
Comment:
Tested the bottom of pennant on S. Korea news. Showing strong bounces off of this level with breaks of the downtrend resistance. Average entry is 14000 currently. Will be targeting 15.2 - 15.6 with a re-entry above green downtrend resistance.
Comment:
Still holding, a break of 12.8 would be concerning.