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Bullish Pennant

cup & handle pattern has morphed into a symmetrical triangle.Cup and handle's handle has gone on for too long now morphing from a c&h shape into a symmetrical triangle which is a better sign for the bulls because as pretty reliable continuation patterns, it's very probable that this will be breaking to the upside. The measured move from just the triangle itself would be 11k but it could also act as a bullish pennant here that would take us much higher than that....ultimately if we can reach above 12.3k and achieve a higher higher on this current upswing before the next downtrend that will ensure we do indeed stay in the bull market and be a great sign for the potential for the price to continue astronomically higher and for the deathcross to be flipped back into a goldencross. Let's hope it breaks upward.
BITFINEX:BTCUSDLong
by DrDovetail
BTC Bullish PennantBtc appears to be forming a bullish pennant on the daily. Pennants are usually continuation patterns & very rarely produce a trend reversal. The move before the pennant formation is in an uptrend, so btc is likely to continue its move upwards if it breaks up above when we reach the apex of the triangle (we're nearly there/possibly already there). Another key point is the volume. Volume should dry up during the formation of a pennant, which is what has been happening thus far. This adds further confirmation that this is very likely a bullish pennant. However a close below $9,300 at this point would invalidate this idea.
BITSTAMP:BTCUSDLong
by kelvinn90
6
The 1 day bullpennant has once again become the dominant patternWe can see now after a very weak "breakout" from the 4hr chart falling wedge that it is the 1 day chart bull pennant that is still very much the dominant chart pattern at the moment. The good news about that is the breakout target should be much much higher than the falling wedge's target would have been. The bad news is the pennant is a descending triangle which has a slight chance of being a reversal pattern. We can also see the 4hr 50 and 200mas are at risk of deathcrossing in the near future if we don't see a bullish breakout from the pennant in the next few days. This is a 1 day chart but I placed the trajectory of those 2 4hr MAs on here with a dotted orange and dotted blue line so you could still see it on the 1 day chart. My bias is still leaning bullish here but because of the potential impending deathcross I'm gonna leave this idea neutral. Hopefully the pennant will break up before wednesday and we won't have t worry about a deathcross on the 4hr.
COINBASE:BTCUSD
by DrDovetail
1day symmetrical bull pennant? Or possibly an invered h&s.green horizontal still maintaining great support. the 1 day 50ma(in orange) continues to grow more and more parallel with the ascending red neckline double reinforcing boths levels of support: price action could continue to grind slowly up the red ascending line and form an symmetrical bull pennant it should ultimately pick a direction by the time it reaches the green descending top trendline of the larger 3 day symmetrical triangle though. Still a chance for it to be an inv h&s pattern here as well...2 different inv h&s are currently in play(shown here in yellow and pink). It's possible for the current pattern to be a combo of both a bull pennant and an inv h&s or 1 or the other.
COINBASE:BTCUSD
by DrDovetail
BTC 10K resistance turns into support. Btc bullishTethers flowing, BTC sentiment has never been this low (Extreme fear) and thats a good thing. Always move against the herd. the herd is not bullish, the herd is not greedy, the heard fears bitcoin. just look at the sentiment chart here: alternative.me , even in crash from 20000$ in February the sentiment was not this low. so shaky hands have been shooked. the rest are longterm investors. daily traders have shit their pants on these levels. so called experts are not reporting any trade. that's good. just look at the google trends, the masses have not even been hyped about 2019 price move. trends.google.com search terms are on low levels, and this is important since bitcoin is fully on web, web trends are saying a lot of information to us. they say this price move is not a hype its actually a gradual and healthy growth.
BITSTAMP:BTCUSDLong
by UnknownUnicorn1928174
Is Bitcoin going to break this Bull Flag / Descending Triangle??It appears as though Bitcoin Is getting ready to go parabolic over the weekend & touch the top of this Descending Triangle, or potentially try to break this Bull Flag & put in a higher low. Only problem I have, the volume etc are declining, so I'm not overly bullish. It's hard to look for bullish patterns in a short term bear trend that potentially started roughly late June this year, egh. Time will tell per usual.
BITFINEX:BTCUSDLong
by ScotianBot
2
Gold’s bullrun continuesGold’s bullish climbing against USD goes on as US and China’s economic tension continues. When we check the 2 hour chart, 1488 support worked well and pushed the price to 1533 resistance. Let’s wait and see if this resistance can handle with the strong move or would price be able to break resistance and go into 1523-1553 channel. As in my opinion even if 1523 resistance will work and push the price down, it will be broken in next try. Moving average and Parabolic SAR seems that the movement is strong. But at the same time Bollinger bands widened that may be showing the value may continue horizontal for some time and than try to break the resistance again. RSI’s support baseline worked also very well. XAU/USD weekly XAU/USD daily, perfectly worked bullish pennant formation
OANDA:XAUUSDLong
by Emrut
1
$BTC in Bullish Pennant: Target $14.5k and beyond in August 2019Hi everyone, Welcome to another update on Bitcoin! Check out that long term 2019 trend line. We think it will hold as very strong support for this ABC correction, which is nearing its end. Bitcoin is coiling in a Bullish pennant for more than a month now, with some over-extended price action. So how is this bullish pennant (green triangle on chart) formed? The support (lower side of the triangle) is the long term 2019 trend line (yellow). The right side of the triangle is the neckline of the infamous inverse head and shoulders in July. The left side is the upwards rise connecting the above 2 sides. That's your bullish pennant! Expecting breakout of pennant anytime in the coming 2-3 weeks as the price action coils towards the tip of the triangle, and as the C wave finishes correcting probably down to $8.8k levels (which happens to have a nice fibonacci confluence with the retracement from Jan 2019). In Summary: we're expecting $8.8k soon, then a continuation of the rally to $14.5k targets (and beyond) in August 2019. P.S. It's not worth taking the risk to wait to $8.8k levels to buy the dip - doing so now is more guaranteed. In fact, there is a possibility that the C wave is already in, and Bitcoin is en route to 5-digits with no turning back to 4-digits again! Cheers, Leb Crypto
BITMEX:XBTLong
by Leb_Crypto