Finally a Vague bearish pennant is on the board...
Hy everyone, This habib from Cryptobits. Today i have quick update about Btc/usd pair for you.
Major trend : Bearish
daily : sideways
We have seen market hit 3200$ and retraced with good buyer's volume , unfortunately buyers were not able to compete sellers near 4000$ (roughly). Bears domination near 4k mark was an indication of more bearish sentiments in coming months. well that was just an indication but really alarming, after that 4k rejection is, bearish pennant. This is a strong bearish pattern if it come into play. if we break lower trend-line of this bearish pennant then for sure 2k is looming around the corner. Right now its not clear whether bears have potential of breaking this structure or not. But one thing is pretty obvious Bears are there in market and they will not allow bulls to take control any soon.If we break previous low of 3.2k (obviously iFF we break lower trend-line ) then you can expect an impulsive price action with huge selling pressure toward 2 to 2.2k.
Don't get into this trade without confirmation so wait for confirmation (breaching 3.2k is a confirmation), you can expect good profit.
Good luck every one.
#TAYOR
Major trend : Bearish
daily : sideways
We have seen market hit 3200$ and retraced with good buyer's volume , unfortunately buyers were not able to compete sellers near 4000$ (roughly). Bears domination near 4k mark was an indication of more bearish sentiments in coming months. well that was just an indication but really alarming, after that 4k rejection is, bearish pennant. This is a strong bearish pattern if it come into play. if we break lower trend-line of this bearish pennant then for sure 2k is looming around the corner. Right now its not clear whether bears have potential of breaking this structure or not. But one thing is pretty obvious Bears are there in market and they will not allow bulls to take control any soon.If we break previous low of 3.2k (obviously iFF we break lower trend-line ) then you can expect an impulsive price action with huge selling pressure toward 2 to 2.2k.
Don't get into this trade without confirmation so wait for confirmation (breaching 3.2k is a confirmation), you can expect good profit.
Good luck every one.
#TAYOR
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