Another day, same price action. Still garbage.
We could say Bitcoin is forming a bear pennant on the 4H timeframe. This means we'll probably get another leg down towards $12.000 or $14.000 if it breaks down.
I'm looking for a breakout from the ascending triangle and retest at 17.2k, if we break that area we can expect 20k or more.
For now, Bitcoin still did not manage to get and stay above the 4H trend. If it keeps failing to claim it I am quite sure the bear pennant is going to break down
Remember, it's the weekend which means low liquidity and even less trading activity.
We could say Bitcoin is forming a bear pennant on the 4H timeframe. This means we'll probably get another leg down towards $12.000 or $14.000 if it breaks down.
I'm looking for a breakout from the ascending triangle and retest at 17.2k, if we break that area we can expect 20k or more.
For now, Bitcoin still did not manage to get and stay above the 4H trend. If it keeps failing to claim it I am quite sure the bear pennant is going to break down
Remember, it's the weekend which means low liquidity and even less trading activity.