BTC: The never ending bear pennant

BTC bear pennant pt. 3: the never ending bear pennant continues and broadens its boarders within a tight range. This weekend we will see Bitcoin choosing a direction which will likely bring us back at testing the 30K supply zone during the month of June.

Given the trading week is almost over, we will see some bullish action over the weekend, building up to the big decision ahead. Likely we will see the last relief rally (or read fake out) before continuing downwards. This market is showing very clear signs of rapid distribution and accumulation or better said: choppy action. This is a clear sign of weakness and I believe we are likely to see more pain during the month of June for the crypto market as a whole. However bullish scenarios can not be excluded even though the chances of it are shrinking every day... We will monitor Bitcoin over the weekend and see which path she chooses before making a definitive conclusion.

IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.

Comment:

so, that worked out pretty well...