BitcoinShort
Pennat consolidation forming in BTCUSD Daily Chart
A pennant consolidation is forming on the BTCUSD Daily chart. This generally is a consolidation before a new leg that continues the prevailing trend. In this case, this would indicate a new leg lower with a target at around $3000 support if it closes to the downside. A break above the pennant could indicate a longer consolidation, with much higher prices required to begin forming a bullish base.
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Bitcoin: 179ETrGo3FCVcnBV8i1uc4J8YHFRknYytz
Eth: 0x73d59A8214FD70053aF37E9700692e25de441245
Bitcoin: 179ETrGo3FCVcnBV8i1uc4J8YHFRknYytz
Eth: 0x73d59A8214FD70053aF37E9700692e25de441245
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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.
Software Engineer and FX, Options, Crypto Trader. Previously worked at large options market maker. If you like my scripts and would like to donate:
Bitcoin: 179ETrGo3FCVcnBV8i1uc4J8YHFRknYytz
Eth: 0x73d59A8214FD70053aF37E9700692e25de441245
Bitcoin: 179ETrGo3FCVcnBV8i1uc4J8YHFRknYytz
Eth: 0x73d59A8214FD70053aF37E9700692e25de441245
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.