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Beautiful re-test of the Bullish Pennant breakout level. If we hold, expecting the start of the second leg UP this week. Target remains $140,000 area within 2 months. #bitcoin CRYPTOCAP:BTC BITSTAMP:BTCUSD
While a lot of analyst see the bearish head-and-shoulders pattern forming, I can also see a possible Bullish Pennant forming in the daily Bitcoin chart. If it plays out the target is around $140,000.
Short term #bitcoin CRYPTOCAP:BTC BITSTAMP:BTCUSD warning:
- price is retesting the 50-day moving average, which is now resistance since we broke it to the downside
- price is bumping into the average volume levels of this top
- there is no volume behind this push (there is a price/volume divergence)
- we formed a bearish head-and-shoulders pattern
- we didnt...
