TauLeptonTrader
Short

Bearish Pennant 4H BTC

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Appears to be a bearish pennant forming on the BTC chart. Looking for a trade to the downside, potential break on the fourth test of the lower trendline, with a target in the region of ~$3K. Open a short position on the break of the lower trendline provided we see volume confirmation. Could wait for a retest but this move could be quite dramatic and inertia could push the price down preventing a retest from taking place.

Comments

I dont get it, could you explain more simple?
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I agree penant with some potential death cross forming very soon. After today's stock market hopium I don't think tomorrow will fair much better and once the USA goes on lockdown BTC will have to end it's rally.
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