Bitcoin tracking in sideways pennant formation

The most recent price action in Bitcoin since yesterday is displaying a clearly visible sideways pennant formation on the hourly charts. That has seen the price edge higher within that formation as it earlier matched a previous high at around 15,520. If it can get above that level, then further upside progress may be delivered. On the downside a break down below 15,300 could once again set the ball rolling in the opposite direction. Hence once again, the 15,300 level might be important in determining the next interim move. Overall, the longer term trend is clearly positive and a continuation of the current move higher is still expected. However, it is still caught up in the wider market dynamics and that has seen the hot money favouring stocks at the expense of other risk based assets. Bitcoin is just now trading at 15,430