Bitcoin heading for $7,102.6 or less after bearish pennant? for BITFINEX:BTCUSD by Felix000

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How to calculate next low with a bearish pennant ? I'm doing it my own way, not like in books $8,674.4 - $7,835.9 = $838.5 or $8,674.4 - $7,716.6 = $957.8 Then pick a measure from inside pennant. I'm going to take 50% $7,941.1. Therefore $7,941.1 - $838.5 = $7,102.6 or $7,941.1 - $957.8 =$6,983.3. I'd be happy if it just broke $7,240. In case of trap I've mentioned in previous post some of what I've been looking out for.

Comment:

Hope every body read this "$7,000 Next? Bitcoin Bears Pull Off Downside Break" from Coindesk. Great roundup of what's going on.

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