aman12

Bear Pennant is forming on BTC 1 hour chart, Possible scenarios

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Hi Guys,

If you see the one hour chart there is possible a bear pennant forming which will lead us to 7320-7340(Golden pocket) area which should hold and we can probably see a bounce back from that point. if that support couldn't hold we can see 7000 level again. I have tried to count the Elliot waves from the point of last crash at around 7050 but they are also very difficult to count right now with this poor volume .
Another important thing I want to share is that volume is the soul of the chart and there is nothing without it if we want the BTC -1.04% to go up it will definitely require the volume . Without volume , it's like building a house without the foundation.

Let's hope that big whales will come as a savior for the BTC .

Not a financial advice, and will always be happy to discuss your ideas.
Comment: That was a quite good bounce for which we all were hoping. If you have noticed one thing is that volume is also quite impressive. I personally think that 8000 USD won't be a difficult task with this volume.
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