BINANCE:BTCUSDT   Bitcoin / TetherUS
Well the bulls have abandoned ship for the time being. Bears are clearly in charge for now. We fell to the 200 MA on this chart. It seems to be holding for now. The pennant was broken but we may jump back inside if volume can show up... If we fall below the 200 MA there is some historic support that may show up to save the day... I know a lot of people were hoping for a straight shot to 20k or higher but that doesnt seem to be the route we are going to take. Consider this a "healthy correction". The market will recover. So if you are a trader short if you must. If you are a holder than hold on. We are currently trading at 10687 and BTC dominance is currently at 68.21. If you take a look at Coinmarketcap you will see most of the coins took a hit. So take the good with the bad I suppose. This is an opportunity if you look at it the right way.
Looks like we’re in a descending channel.
Nice pennant my friend.
How do you know where to draw the bottom trendline in the pennant? Don’t you need at least two points to draw that line?
+1 Reply
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