I went to cash yesterday as this pennant formed. It's not however a textbook bearish pennant and knowing my luck, having made the decision to go to cash, the price will probably swing to the upside.
#BTC #Bitcoin #BTCUSD #BTCGBP Short Idea (Double Top)
Price action shows a higher low ; conversely ALL 3 oscillators showing lower lows indicating a potentially hidden bullish div. Not SURE whether price actions will hit all time highs, comment below!!
Ive had the luxury of being away on vacation and having had time to think about this and concluded that this is hugely complex in its analysis. This analysis is with reference to my very long term trend analysis tagged. I will state that im not a coder or BC expert but have a thorough understanding of economics so please excuse any BC misunderstanding in the...
BITCOIN/GBP what happened? £51 on Friday.
Looks toppy.... near term seems exhausted with a daily double top and 3 drive pattern. Nevertheless watch out for one last highs for a stop run, way too obvious short at the moment.
See chart for BTCUSD. similar set up. RSI on 4hr chart suggest move down.