BitcoinUpdated Bitcoin: could it be flat correction (bull pennant)?
The bulls (whales) are very persistent. They've almost convinced me of their determination.
If we only look at the short-term, it does appear that BTC is drawing a bull pennant (with flat correction).
While it's currently below the trend line, it does look like the whales are going to push price above it again.
We also see decreasing volume & volatility, both make for targets of manipulation.
My gut feeling is that we'll make a higher high now. But I'm being disciplined & want to trade against my gut feelings.
If we only look at the short-term, it does appear that BTC is drawing a bull pennant (with flat correction).
While it's currently below the trend line, it does look like the whales are going to push price above it again.
We also see decreasing volume & volatility, both make for targets of manipulation.
My gut feeling is that we'll make a higher high now. But I'm being disciplined & want to trade against my gut feelings.
Note
slight bearish divergence in the last few daysNote
interesting read: samuraitradingacademy.com/7-best-price-action-patterns/pennant in dishonorable mention
Note
unsurprisingly, pumped right back above the old support --- no resistance at allNote
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.