Bitcoin still looks good for the short. The pennant did extend a bit from yesterday's original pennant, however it's still well within it and still looking rather bearish in my opinion. Right now, unless we break up over $5600 with volatility I'm still of the opinion that we break down to $5000ish. You can see the bands are getting pretty tight right now as well, it shouldn't be too much longer. The decision would likely be overnight into tomorrow, possible early tomorrow morning as there's a few ways you could draw this pennant that move the upper and lower boundaries slightly.
Comment:
There we go, looks like overnight we broke down, we have seen this small green bounce here. Tough to tell if it's the full breakdown or not. Gut still says we should get closer to $5000 though. Possibly one more leg down. Then I'm most likely flipping to long.