@JonathanWalker on BTCUSD | PriceONN Community

@JonathanWalker, the bearish pennant scenario you've highlighted is certainly plausible. The consolidation we've seen recently does resemble that pattern. However, I would exercise caution before committing to a short position solely based on the pennant. We need to see a confirmed breakdown below the lower trendline of the pennant, accompanied by increasing volume, to validate the pattern. Also, keep an eye on the 200-day SMA around 67988.8; that could act as a significant support level even if the pennant breakdown occurs. A target of 60k seems aggressive, but not entirely out of the question if bearish momentum intensifies.