BTC looking to break out of pennant
Updated
BTC is trading within a pennant pattern since the beginning of April. Note the break up and immediate retest in early April of the falling resistance line.
Watch for price to break out of the pennant. If BTC breaks up a test of resistance around 7700 is next.
I think a more likely scenario is a break down to test 6000 again before the start of a stronger move back up.
In any case, watch the chart and trade it as it unfolds.
Watch for price to break out of the pennant. If BTC breaks up a test of resistance around 7700 is next.
I think a more likely scenario is a break down to test 6000 again before the start of a stronger move back up.
In any case, watch the chart and trade it as it unfolds.
Note
Strong break up through pennant and recent swing high. Watch for next resistance around 7700.
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.