I'm no trader, so it's not a financial advice, just wanna let you know, but this looks like a bearish pennant which would be a part of Wyckoff distribution and larger SSHSS structure of the whole cycle.
I would consider a successful bullish breakout only after BTC would significantly stay above 42k area and attack 50k, everything else seems to be bearish.
I think price is going to drop, because of reasons and hey, whales gotta eat somehow, right? After all it's them, who control this circus anyway.
Idea based on own observation, and other traders charts.
What do you think?
I would consider a successful bullish breakout only after BTC would significantly stay above 42k area and attack 50k, everything else seems to be bearish.
I think price is going to drop, because of reasons and hey, whales gotta eat somehow, right? After all it's them, who control this circus anyway.
Idea based on own observation, and other traders charts.
What do you think?