Category: Tether (USDT)

Bearish pennant forming? Downtrend resumes?

A bearish pennant is formed during a steep, almost vertical, downtrend.

After that sharp drop in price, some sellers close their positions while other sellers decide to join the trend, making the price consolidate for a bit.

To trade this chart pattern, we’d put a short order at the bottom of the pennant with a stop loss above the pennant.

Unlike the other …