Need to watch BTC very carefully inside this pennant. As we saw just a week ago, ETH broke its pennant and is down to $175 from $300!
We have had a 0.618 Fib retrace and 3 consecutive lower highs.
Right now we are in a potential bull trap position where a fake out might occur to the upside trapping longs. Bearish move invalidated ( for now ) if close above $6380.
Looking to short the retest of pennant when we break down.
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My position
Entry : $6240 ( after $6240 is breached I will place order )
TP1 : $59XX
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My ideas are not finacial advice.
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We have had a 0.618 Fib retrace and 3 consecutive lower highs.
Right now we are in a potential bull trap position where a fake out might occur to the upside trapping longs. Bearish move invalidated ( for now ) if close above $6380.
Looking to short the retest of pennant when we break down.
----------------------------------------------------------------------------
My position
Entry : $6240 ( after $6240 is breached I will place order )
TP1 : $59XX
----------------------------------------------------------------------------
My ideas are not finacial advice.
----------------------------------------------------------------------------