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PW
Dec 8, 2013 2:08 PM

BTC Bearish Pennant  Short

Bitcoin / U.S. DollarMt.Gox

Description

Given the overall downtrend, this would appear to be consolidation before going lower in the form of a bearish pennant.

blog.nobletrading.com/2010/01/bearish-pennant-chart-pattern.html

Comments
PW
Updated: the bearish pennant was rejected which was very bullish. I went long after as indicated below. Now we have reached significant resistance at the neckline and I am selling.

PW
Update: We may have morphed into a new bearish pennant
PW
Result = fail.


But I still bought in when we breached the pennant.
PW
Updated, still holding:
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