I closed my long position opened +\- back then yesterday for the same reasons. Maybe it was in vain, but I will not regret it even if that's the case.

Since Friday, BTC has been drawing a "Bearish Pennant," which threatens a move below $116,000. This means - it threatens the liquidation of our long position. The first target of the pattern is around $115,414, the second - $113,567.

The concerns about execution are very high because the price has not been able to stay above the EMA 50 on the hourly and 2-hour time frames since Friday. Currently, they are in the range of $118,140-$118,225 and form a combo of resistances. As long as the price is below these moving averages - the execution of the pennant is a more realistic prospect.