BTCUSD left a pennant directionless and entered in an other one

BTC has cleared the resistance at the trendline drawn between the July 24 and Sep 4 highs as shown in my sep 18 post ("BTCUSD daily chart July to sep 18 in Pannent"), now the priceline went out of the triangle leaving it directionless in a narrow range. Now the BTC is entered in another pennant from sep 4 to oct 15 highs, however BTC is showing resilience by making higher lows and some how higher highs. RSI is also making higher lows since visited the oversold zone in Aug. Stochastic is also in oversold zone. Today the priceline has touched the bottom of pennant now the BTC can move here sideways or move up. So there is a hope of breakout soon insha Allah.

Regards,
Atif Akbar (Moon333)

İşlem aktif:

The day RSI is almost arrived at oversold zone BTC does not have capacity to drop more than 5750, it will be bounced back soon