As we can see here on the daily CHAINLINK is trying to beat the resistance at the top of this pennant formation. It appears every time it attempts to break out on lower timeframes, the sell pressure increases pushing it back down.
I will keep a close eye on this. If it can't close outside of the pennant, we are likely looking at downside to the accumulation levels / the bottom of the pennant. If it comes back up to test after that, it is likely to break through.
I will keep a close eye on this. If it can't close outside of the pennant, we are likely looking at downside to the accumulation levels / the bottom of the pennant. If it comes back up to test after that, it is likely to break through.
Kommentera:
Keep an eye on the daily. If BTC pushes down its likely this could close as a false breakout
Kommentera:
It was
Kommentera:
See how it bounced at the bottom of the pennant? Price is about to make a big move, who can say which way.