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Bitcoin Technical Analysis: BTC Braces For The Next Big Crash (March 2020)
Bitcoin is still trading within the bearish pennant. The reason we call it the bearish pennant is because this is not just a symmetrical triangle; the price was very clearly trading lower as it entered this pennant and therefore it is important to make that distinction so we can set our expectations accordingly. Bearish pennants have a history of breaking to the downside and we expect the same this time. However, it remains to be seen whether or not we will see a false breakout first. In any case, this is a time to be preparing for the next big crash given what is happening on the global financial and economic scene.
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