Literally every single man, woman, child, dog, cat, turtle are posting the same pennant chart that has already gone to 95% of the formation which means it likely is invalidated yet everyone is still oddly calling for a break out or break down of the pennant.
There is a 3rd option and that is that the triangle is invalid and we continue to chop sideways and continue to recover.
Remember we are in a weekend right now and volume is VERY low and therefore the pattern has likely been invalidated for some time.
The best youtuber I've seen so far on TA is this guy (Twitter |Youtube- and he explains this idea the same way but in more depth - it is a much watch if you want to see how BTC will recover out of this dip:
youtube.com/watch?v=i9gtuj-VIhE&t=490s
There is a 3rd option and that is that the triangle is invalid and we continue to chop sideways and continue to recover.
Remember we are in a weekend right now and volume is VERY low and therefore the pattern has likely been invalidated for some time.
The best youtuber I've seen so far on TA is this guy (Twitter |Youtube- and he explains this idea the same way but in more depth - it is a much watch if you want to see how BTC will recover out of this dip:
youtube.com/watch?v=i9gtuj-VIhE&t=490s
Note
We're now at 100% of the pattern completion .... On some of the LOWEST volumes I've ever seen recorded on a 4H candleHINT HINT: The pattern is invalid
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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.