if this right here right now holds above 9550-9600 this will confirm this as a bullish pennant as opposed to the bearish triangle idea a lot of people have about bitcoin right now.... which means odds of breaking upwards could be higher then it breaking downwards.... BUT we could still break down no matter what and hope we do because bitcoin desperately needs a serious correction this 350% gains in 3 months was ridiculous
We already had a correction about 35% from 14k$. This 3 month consolidation make the market healthier. If you look the 2016 chart, it is note the first time bitcoin did something like that.. For instance, 130% up in few weeks then consolidation with 35% correction..