BTC has still not broken the bottom of the Pennant
As a follow up to my last post calling for a Bearish Pennant continuation, BTC has been attempting to break the bottom of the triangle to no avail.
Although it is still too early to tell this is a strong bullish indication and we may see a swing back to the top of the triangle. If it does it will break through it with might as we've passed the two thirds mark of the pennant with no breakouts to either side. There is also a third option of invalidation if sideways movement continues past the apex of the triangle.
Continuation Pennants are successful only about 55% of the time. Based on the massive popularity and limited supply of this asset we may be in 45% group at this stage.
Trade accordingly.
>> Price prediction is not financial advice, make your own decision when investing. <<
Although it is still too early to tell this is a strong bullish indication and we may see a swing back to the top of the triangle. If it does it will break through it with might as we've passed the two thirds mark of the pennant with no breakouts to either side. There is also a third option of invalidation if sideways movement continues past the apex of the triangle.
Continuation Pennants are successful only about 55% of the time. Based on the massive popularity and limited supply of this asset we may be in 45% group at this stage.
Trade accordingly.
>> Price prediction is not financial advice, make your own decision when investing. <<
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