Bearish pennant to ~42k? (4 hour view) for BITSTAMP:BTCUSD by jazerbay

Hello all!👋😁 Thanks for joining here today🌞🌆, as we climb into 🏂this technical approach analysis


Likely to continue to bounce around and contract tighter before we see impulse wave↗↘🌊

This is just my current view, simply explained.🆗👍👀

BTC has made us huge gains💪💲 in the past couple weeks as we soared🐱‍🏍 to ~52k.5️⃣2️⃣

Now we seem to be creating a bearish pennant🐻▶ (could turn bull🐮 but I am leaning towards bearish🐻)🆗

We started to dump, and if we continue this dump (very possible😀,) I would expect to see us hit 30 percent fib retracement of our most recent impulse move that lead us to 52k. (See yellow 🟨 line ➖ on chart📈)

If we can do as mentioned above, we can also make room for more highs in the near future.😄👌📌

I am expecting a dump and pump situation.⏰↘😨↗😍

Always remember🕵️‍♀️

🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs, major trend-lines etc. I always recommend looking at multiple charts when making a big investment, thank you!

Always have a stop loss ✋🛑💲 set

Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.

Thank you so much


I would love to hear your thoughts, let me know how you view the current situation! 👋

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