jmmcinvale

BTC Bitcoin Pennant and Flag Continuation Formations

BITSTAMP:BTCUSD   Bitcoin / Dolar
233 2 4
Do you think a pennant is forming? Do you think BTC could drop back to an earlier support, say the 3k range? Thanks!
Balas
jmmcinvale JonnieGopher
@JonnieGopher, I use the daily chart and do not see a pennant forming at this time. I am not adding to my long position now. I am considering selling half and let the other half run. I think 4k is more likely than 3k. However there could be whale-induced flash selloffs followed by immediate recovery. Those events could go lower than 4k. To benefit, set buy stops on the way down.
+1 Balas
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