Pattern:
Following a sharp decline bitcoin has found itself forming a triangle like pattern creating a bearish pennant. MacD has steadily been decreasing over the past few candlestick indicating a declining bullish sentiment.
Trade analysis:
Personally, I'd wait to enter short on a break to the down side below 28,500, putting a tp at 27k, and a sl at 28,800.
Following a sharp decline bitcoin has found itself forming a triangle like pattern creating a bearish pennant. MacD has steadily been decreasing over the past few candlestick indicating a declining bullish sentiment.
Trade analysis:
Personally, I'd wait to enter short on a break to the down side below 28,500, putting a tp at 27k, and a sl at 28,800.