BTC breaking bellow strong long term uptrend
We can see a pennant continuation pattern on BTC with a nice breakout. Volume dried out during the formation of the pattern as usually happens with these. Although breakout was not on high volume it is important to remember that a market may fall from inertia, but I am still waiting to see volume increase as price goes lower. Expecting to see a decline move to at least 6.2k but could go further to 5.3k. It is worth noting that previous low was at 6k, if this resistance is broken this would mean a lower low and BTC would continue its downtrend.
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.
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.