BTC bull pennant to transform into bull flag?
Updated
Here's an optimistic scenario: Bitcoin fails to break out of the bull pennant thanks to low weekend volume and falls out of it, retests support as resistance, fails, falls to around 21,500 USD confirming a bull flag, dead cat bounces, then sets up for a breakout early in the business week with a target of 26-27k. Will it happen? Only time will tell. Is it plausible? Yes. Is it preferable to a weak volume weekend bull pennant breakout? Absolutely.
Shout out to the one guy who liked this idea when I first published it at the start of November.
Shout out to the one guy who liked this idea when I first published it at the start of November.
Trade closed: target reached
We did flag out, but sideways rather than downwards and then we hit the bull flag price target. And then Bitcoin continued to moon.
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