jwammo12

BTC Daily Pennant consolidation continues

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC continues to form a pennant on the daily. Pennant patterns generally are consolidation before resuming the prevailing trend. A break to the downside of this pattern would indicate another leg lower, possibly to the 2800-3200 support area . A break to the upside could intimate a longer consolidation period.
Comment: BTCUSD has broken below the pennant on the 4H and is on its way on the Daily. This is where an aggressive entry may be taken, with a more conservative entry when it breaks below the bottom of the pennant.
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