bitcoin is not looking good right now !!

btc is forming bearish pennant on 4 hours timeframe. which isn't bullish continuation indication. it's looking very bad.

withing few hours PPI (producer price index) report will be published around 8:30 A.M. Eastern Time)

I am hoping for bullish news if we do get the bearish news. we will see significant drop in bitcoin price.

if you are holding bitcoin in spot you don't have to worry. but future traders have to be aware of price action and what bitcoin is doing.

don't fomo or panic. things will get better. i will be updating this idea time to time.


if we do break upside we will see massive pump to 19k if downside we will see 13-14k :)

Commento:

look like we have breakout of that patten but we can still fakeout easily .. if we didn't break the last swing high