BitcoinUpdated Btc still consolidating inside a bull pennant
I think worst case scenario for bitcoin (barring any major black swan) is that it corrects back to this pink neckline of this inv h&s pattern then the 1 day 200ma (in blue) helps push price action up out of the yellow bull pennant..so I placed my guesstimated measured move target for the pennant right where the support of the inv h&s neckline (in pink) intersects it. Could certainly still break above it earlier. *not financial advice*
Note
Appear to have broken it earlier from the yellow pennant than I ad arbitrarily placed the measured move yellow dotted line at on the chart, slightly raising the yellow breakout target to around 38k-40k.Note
Likely it could consolidate after reaching the pink inv h&s breakout target before continuing up to hit the pennant target.Note
Both targets now hit!
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.