BTC breaking 2.5 month downtrend
BTCUSD has been creating a pennant during its downtrend which started in April. Although this is technically a bearish pennant, BTC tends to break up out of these. Which is what it is currently attempting. The last 4 rejections off the top trend line has allowed BTC to form this beautiful pennant. It is currently at the very tip of the pennant and has no more room to consolidate. While making this analysis it has already pumped $300 pretty fast, which is showing that the bulls are taking control. Pay attention to the zones provided.
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