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Bitcoin bearish pennant puts us to 14k $.
I used the bearish pennant scenario and a 1:1 Fib ratio.
Unfortunately we are creating lower highs on the current pennant, whereas the support level stays the same.
This corroborates the play of a bearish pennant - as we are losing the buy pressure, while hitting against the same support level.
At some point it will likely break and put us to lower levels.
Each Bull-Market-Cycle we are having a lesser %-gain from ATH to ATH.
Around 70k mark was the current logical ATH level.
Therefore we are very likely within a bear-market indeed and should await lower levels with high accuracy.
Take care of yourself!
Unfortunately we are creating lower highs on the current pennant, whereas the support level stays the same.
This corroborates the play of a bearish pennant - as we are losing the buy pressure, while hitting against the same support level.
At some point it will likely break and put us to lower levels.
Each Bull-Market-Cycle we are having a lesser %-gain from ATH to ATH.
Around 70k mark was the current logical ATH level.
Therefore we are very likely within a bear-market indeed and should await lower levels with high accuracy.
Take care of yourself!
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