đ Bitcoin: Bearish Pennant Chart on Hourly Chart đš
Normally, I donât look at charts below 4H because I want to filter out the noise. However, in volatile and decisive times like these, it is essential to use as much data as possible to support decisions.
So while the higher time frames look very promising, the 1H chart is sending some change signals.
The chart clearly shows that Bitcoin is trading within a bearish pennant. This chart is likely to break down and break below the initial higher low (below 50k in this case).
Of course, the 1H chart is less reliable. However, I think it is still important to keep an eye on this chart and consider it when making further decisions. Accordingly, this post is not about âdeceptionâ but about drawing your attention to this chart when making decisions!
