Bitcoin

BTCUSD Bearish pennant or reversal pattern? MACD, RSI are good

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Hello, all

  • Here is my personal view on BTCUSD market. We are still in bearish trend and are now forming a clear continuation pattern - bearish pennant. If it works as supposed too, we can see a drop to a next strong support zone, which is around 24,000.

    On the other hand if this is a symmetrical triangle, then we can touch a 42,000 resistance level.

    MACD on 1D looks good. RSI on 1D looks good and shows potential bullish trend.

    I personally stay out of trading until I see a clear breakout.

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