The bulls (whales) are very persistent. They've almost convinced me of their determination.
If we only look at the short-term, it does appear that BTC is drawing a bull pennant (with flat correction).
While it's currently below the trend line, it does look like the whales are going to push price above it again.
We also see decreasing volume & volatility, both make for targets of manipulation.
My gut feeling is that we'll make a higher high now. But I'm being disciplined & want to trade against my gut feelings.
If we only look at the short-term, it does appear that BTC is drawing a bull pennant (with flat correction).
While it's currently below the trend line, it does look like the whales are going to push price above it again.
We also see decreasing volume & volatility, both make for targets of manipulation.
My gut feeling is that we'll make a higher high now. But I'm being disciplined & want to trade against my gut feelings.
Nota
slight bearish divergence in the last few daysNota
interesting read: samuraitradingacademy.com/7-best-price-action-patterns/pennant in dishonorable mention
Nota
unsurprisingly, pumped right back above the old support --- no resistance at allNota
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