Lets Zoom out a little bit and take a look at the WEEKLY chart of BTC.
We can see that a HUGE pennant pattern is forming on the weekly chart.
Pennants are continuation patterns. The price rise preceding the pennant is called the flag pole.
The bottom trendline has been respected and has been acting as a support several times.
We reach the apex of the pennant around the 15th of May and we should see a breaktrough to the upside if buyers can come in with decent volume.
We can see that a HUGE pennant pattern is forming on the weekly chart.
Pennants are continuation patterns. The price rise preceding the pennant is called the flag pole.
The bottom trendline has been respected and has been acting as a support several times.
We reach the apex of the pennant around the 15th of May and we should see a breaktrough to the upside if buyers can come in with decent volume.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.