We are forming a pennant/descending triangle doesn't matter it's all hypothetical.
What's important is after repeated selling attempts the bears are all out of ammo. The bears need to regain strength at higher ground. There is increased sentiment in bitcoin and there are a lot of buyers at 10000. The indicator is still bearish until we hit 10.75k Until we hit 10.75k this has been a bearish attempt at going lower.
We will most probably likely test 10.4k and 10.6k again to do a liquidity pool run and we will see how much the market has bloated by then.
What's important is after repeated selling attempts the bears are all out of ammo. The bears need to regain strength at higher ground. There is increased sentiment in bitcoin and there are a lot of buyers at 10000. The indicator is still bearish until we hit 10.75k Until we hit 10.75k this has been a bearish attempt at going lower.
We will most probably likely test 10.4k and 10.6k again to do a liquidity pool run and we will see how much the market has bloated by then.
Trade closed: target reached:
Target reached 10.4k. Now obviously I did not have a stop and endured max pain but made out with 10% profit in my portfolio.