BTC - Bitcoin today from the bear point of view

DCT-Trading

Today I would like to show a bearish possibility of the further BTC course. In my opinion, one should also consider a contrarian alternative at any time, especially with steadily rising prices.

Here I show a bear pennant (Rising Wedge) which appears valid, except for a FakeOut of the upper channel boundary.
The breakout below the lower channel boundary and the SMA50 are to be considered bearish at least in the short term as these could now serve as potential resistances, also the volume was increased on this occasion.

Hint:
Currently, the uptrend remains intact, this bear pennant represents a potential reversal formation.


_____________________________________
This is not financial advice and or buy or sell recommendation.
The chart and its content as well as the associated text reflect only my private views and opinions.


Feel free to like or follow me if you like :)

Best regards and good luck