easonjm11

BTC dumps down to trend support!

COINBASE:BTCUSD   Bitcoin
BTC just shed 5% and dropped down to trend support, represented by the yellow lines. We have bounced around in a pennant formation for weeks now, consolidating into a tighter point. BTC was rejected by the fickle 21 DAILY EMA. The psychological $10,000 is not much of a support anymore, and the next level to watch is $9650, the 100 daily EMA. A rise to the top of the pennant is also in the cards and would be a continuation of the pattern, further coiling up.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.