Measurement's on this Pennant make BTC look awful!
The measurement method from the two pennants we have drop us to 25.5k and 21.8k
I'm expecting us to have strong buyers in these zones from 28.8K-29.3K, 27.8k-28.0k, 25.5k, 24.4k-23.8k
Can set bids in these regions with tighter stops betting on good demand in these areas
If not wait for the confirmation of the restest of that level, or likely as it will wick up quite quickly, enter on the successful restest of the next level up
Pennant went real quick from looking like it was gonna be squeezed into a long into a confimed sell
I'm sure everyones portfolios took a hit, but they are most likely higher than they were a few months ago if we have been taking partials
Now it's about strategically re-entering and to fulfill risk management and build up those funds again
We do have the possibility of a huge ball flag, but to complete this pattern it needs to drop to 25.5-24K region
If it bounces earlier, still would make a macro bullish formation, unparrallel flag/wedge
IMO 24.4k will be where we end up bouncing properly from...lets see where the buyers are!
I'm expecting us to have strong buyers in these zones from 28.8K-29.3K, 27.8k-28.0k, 25.5k, 24.4k-23.8k
Can set bids in these regions with tighter stops betting on good demand in these areas
If not wait for the confirmation of the restest of that level, or likely as it will wick up quite quickly, enter on the successful restest of the next level up
Pennant went real quick from looking like it was gonna be squeezed into a long into a confimed sell
I'm sure everyones portfolios took a hit, but they are most likely higher than they were a few months ago if we have been taking partials
Now it's about strategically re-entering and to fulfill risk management and build up those funds again
We do have the possibility of a huge ball flag, but to complete this pattern it needs to drop to 25.5-24K region
If it bounces earlier, still would make a macro bullish formation, unparrallel flag/wedge
IMO 24.4k will be where we end up bouncing properly from...lets see where the buyers are!
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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.