BTC Daily Pennant consolidation continues

4 Des 2018

BTC continues to form a pennant on the daily. Pennant patterns generally are consolidation before resuming the prevailing trend. A break to the downside of this pattern would indicate another leg lower, possibly to the 2800-3200 support area. A break to the upside could intimate a longer consolidation period.

5 Des 2018

Catatan

BTCUSD has broken below the pennant on the 4H and is on its way on the Daily. This is where an aggressive entry may be taken, with a more conservative entry when it breaks below the bottom of the pennant.