So, I decided to do an update because the price of Bitcoin just plummeted out of nowhere.
What I posted above is the 1-Day chart.
I’ve posted this before earlier today, but I’ll go ahead and reiterate it for anyone that’s still currently wondering.
This is what a bull pennant formation looks like:
As noted before, there is a relatively a low-ish success rate for this chart pattern according to Thomas Bulkowski, but it’s still worth considering.
There are a lot of converging support/resistance points at this time and the RSI is decreasing (which doesn’t necessarily mean a price reversal further down south).
It remains to be seen what moves will occur with bitcoin.
Not too much more to say at this point in time.