TauLeptonTrader

Bearish Pennant 4H BTC

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Appears to be a bearish pennant forming on the BTC chart. Looking for a trade to the downside, potential break on the fourth test of the lower trendline, with a target in the region of ~$3K. Open a short position on the break of the lower trendline provided we see volume confirmation. Could wait for a retest but this move could be quite dramatic and inertia could push the price down preventing a retest from taking place.