Bitcoin Bearish Triangle Within A Pennant

17 בינו׳ 2021

In my previous post on Bitcoin I made the prediction that Bitcoin will be relatively bearish in the near future, adhering the movement in the pennant. After a small pull-back to 38k, we're seeing Bitcoin forming a bearish triangle, indicating further bearish pressure.

I'm expecting Bitcoin to break through the lower trend line of the triangle soon, after which the price is expected to descend to 32k-ish, to the lower trend line of the big pennant.