FIRST OF ALL, please do me a favor and tap that like button or even leave a comment on what you think of my technical analysis I've posted for the trading community! 👍
SEOND OF ALL, bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend. They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows.
LASTLY, stay safe and have a great weekend!
(we can nuke below $30,000 whenever whales decide to press the sell button so please be cautious this weekend and next week)
@sands1948 if we printed the same Pennant but the price action originated from below it would continue up, but because it’s stemming from above the pennant the downside continuation is more likely in terms of probabilities, and thank you