Bear pennant or Adam & Eve (double bottom) ?I saw someone pointing out a bullish scenario and i drew it out.
So the bear case; Bear pennant, Death cross and broken trendline.
Bull case; Bitcoins gonna bitcoin.
Bearish Pennant
BTC USD 4H. Bearish Pennant..Small 'Bart Simpson' Incoming? Line chart of BTC. Here we have a nice example of a bearish pennant. But, these do break to the upside as well. I think this one will! Partly because BTC.D (Dominace) is about to touch strong support. A little 'Bart Simpson' pattern may emerge to climb above the 180 EMA to around $60500 USD. But, this is where we may see a rejection as price at this level will be retesting the bigger of the two ascending channels lower trend line! If we get over that then then I would imagine a challenge of the ATH a distinct possibility.
Short? It needs to be addressed. Although I am long, the short possibilities need to be recognized. The bottom trend line of the bearish pennant is in red. I will be paying particular attention to any break of this pennants support. The second area of defense I am particularly interested in is Trend Line A. I would rather not see that get broken. This will definitely invalidate my long idea!
Two ascending channels shown. From the steeper one we have moved into a more shallow one. We could be gently rounding off if we carry on losing momentum.
COIN bearish pennant breakoutI am usually not much of one to talk about stocks as much as cryptocurrencies (as my username indicates), although I feel like it would be an injustice not to mention the current breakout of a bearish pennant for coinbase. It started to form a wedge yesterday, but looks like it has broken downward today.
As with most IPOs it is often tricky to determine trends immediately, but it looks like COIN is perhaps starting off heading downward first. As to whether BTC's current downtrend will have any effect on COIN or vice-versa should be interesting to keep an eye on, as the correlation might begin to show itself over the next few weeks/months.
Bearish pennant forming on $viac updated 04-08Updated from the last two days. Lines haven't moved and needs to recover or else..... good luck and make your own trades
Bearish pennant forming on $viac updatedUpdated from yesterday... Almost broke out but fell back in today. Volume really dried up end of day, today. Good luck and make your own trades.
Bearish pennant forming on $viacI believe we are likely in some consolidation before the next leg down. This could easily make it to the twenties before any support stops it. Make your own trades and good luck!
Tesla is not out of the woods. Death-cross and bear pennant.Tesla is not out of the woods yet. There is still a death-cross and what appears to be a bear pennant on the chart.
Just another ideaJust a beginner trader putting an idea on the chart.
The targets of both indicators is more or less the value of the last fund.
This is not an investment tip!
Gold's descending/bearish pennantWe was supposed to post this idea yesterday when Gold was still around 1717, we did our analysis and with our fractals lined up perfectly, we were able to see the bearish pennant even without trend lines.
In our previous idea, we talked about Gold's Head and Shoulder pattern, it has completed a shoulder and it's still trying to form a bottom for it's head, it hasn't really found that support to hold it''s head yet, whenever there's a support, it breaks it and makes another low.
Gold did a fakeout to around 1687 and revered back up to 1699.
My Idea is that if it breaks below the pennant without faking out, we are getting a move down to the 1650 area but if it doesn't break below the pennant, we are definitely getting a retest of the resistance at the 1720 area .
This is not financial advise, this idea is for educational purposes only and a way of giving you guys another perspective different from your own.
TRX/USDT expected bearish movementHi every one
TRON/USDT
The TRX/USDT has formed a bearish pennant which means there is a higher chance that the price decrease rather than increase!
we shall wait and see if the downward breakout will happen or not.
Thank you for seeing idea .
Have a nice day and Good luck.
Bearish Divergence for GBR?GBR has created lower highs on the RSI since Oct 2018 but the price has continued higher until the blow-off top in late June 2020.
The RSI looks like it's trading in a Descending Channel.
The KST has seen multiple bearish crosses since Dec 2018 and continued lowers highs indicating momentum is fading.
Noticeably the price has broken flush to the downside of a bearish pennant unless it's a fake-out.
Bearish Pennant on EUR/NZD @ W1This long-term bearish pennant on the weekly chart of EUR/NZD provides a bearish breakout trading setup. The pennant and its pole are marked with the yellow lines. My potential take-profit level is marked with the green line. My potential stop-loss level is marked with the red line. A short trade can be entered once a week closes well below the pennant's lower border.
Bearish Pennant on EUR/AUD @ D1This bearish pennant formation on the daily chart of the EUR/AUD currency pairs presents a bearish breakout trading setup. The pennant and its pole are shown with the yellow lines. My potential take-profit level is marked with the green line. My potential stop-loss level is marked with the red line. I will wait for a close well below the pennant area before entering with a market order.
a move lower before a bounce back higherbear pennant in the process of forming.
i am guessing we see $20-ish before a move back up.
Bearish PennantBearish Pennant on GBPJPY target should be the same size in pips as the pole. I set my target a bit shorter though. As always use good risk management, do not overleverage.
$TSLA Bearish Pennant Continuation$SPY $AAPL $QQQ -- $TSLA is showing a very clear Bearish Pennant Continuation pattern on the 15 min chart. Will likely have another dump tomorrow ;)
Current 1 day chart chess board. Currently in a 1day chart bear pennant that has a breakdown target of 8.4k or so but could see a reversal at the golden pocket in the 9.2-9.5k range instead of reaching the entire breakdown target. We've also already tested the weekly chart 21 ema(not shown here) as confirmed support so there's a chance of a reversal here but seeing as how we have yet to fill the 9.7k CME futures gap(not shown here) I have a feeling we at least will send a bottom wick down to do that. It is unlikely it will stop there however as too many traders will be anticipating a reversal right after the gap fill so I'm guessing it will overshoot the gapfill target and head lower than 9.7k At this current point and time anything is possible but based on the current shape of the descending bear pennant it looks like we should see some form of a breakdown or breakout around september 14th if not earlier. Setting phasers to neutral for now.
KAVABTC - Bearish patternKAVA is showing us a bearish pattern. Supports are drawn, which equals the flag pole in length.
