Bitcoin is currently forming a bullish pennant — a classic continuation pattern — right after a strong 14% impulse move. This type of structure often leads to a breakout followed by another powerful rally. And it’s coiling up nicely.
🧠 Technical Breakdown:
🟢 Bullish pennant formation in progress
🔽 Support zone: $115.5K – $116.5K
📏 Flagpole projection targets $135K+ on breakout
⚠️ Currently consolidating with lower volatility — breakout could be near
🔍 What to Watch For:
Clean breakout above pennant = breakout confirmation
Daily close below $115K = invalidation zone
Volume spike will likely signal the next move
📢 Final Take:
BTC is showing healthy consolidation after a strong move, and this pennant could launch us toward $135K and beyond. Keep your eyes on the breakout and manage risk wisely.
💬 Share your thoughts below & smash that ❤️ if you’re watching this move!
🧠 Technical Breakdown:
🟢 Bullish pennant formation in progress
🔽 Support zone: $115.5K – $116.5K
📏 Flagpole projection targets $135K+ on breakout
⚠️ Currently consolidating with lower volatility — breakout could be near
🔍 What to Watch For:
Clean breakout above pennant = breakout confirmation
Daily close below $115K = invalidation zone
Volume spike will likely signal the next move
📢 Final Take:
BTC is showing healthy consolidation after a strong move, and this pennant could launch us toward $135K and beyond. Keep your eyes on the breakout and manage risk wisely.
💬 Share your thoughts below & smash that ❤️ if you’re watching this move!
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.
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.