If we are to be in a triangle / pennant formation, we are looking at multiple possibilities here ... the levels are $0.717, $0.68 and $0.61 (lows of the candles)
Commento:
Nothing new, just dragging its feet towards the tip of the triangle. I guess we are on weekend break, since all the markets seem stall at the moment.
Ordine annullato:
I think we are safe to say the flag / triangle / pennant idea is not valid anymore and we are rather in a consolidation channel (the famous "squeeze" on the BBands). Very difficult to predict to which side it will break, however there is a small hint in the re-test of the 80s highs during that 1h candle. It broke the BB but then failed to pass the previous resistance and bounced back into the channel. This suggests a down movement, but we never know for sure. Anyway, interesting to watch, especially since the BTC appears to have started the upwards movement towards the $20,000 ATH
