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Bullish Pennant

ICX possible Bullish pennant forming. ICX is forming a possible bullish pennant on the hourly charts (1-4.) RSI is turning up and has plenty of room to run, and the MACD on the 4-hour is looking like it will cross over (bullish cross over.) The Stochastic indicator is also turning up. Target 1 is along the pennant near 1350. If it is rejected here, it will most likely retest the bottom part of the pennant near 1260-1270. If 1260-1270 cannot hold, there is a shallow support at 1150-1160, but the next real support is the long-term sideways trend line around 1090. If it breaks above 1350, the next target is the prior resistance at 1450-1460. I don't expect it to immediately move a lot higher than target 2 if it breaks up. I'd like it to move slightly above 1450ish, and then test that 1450 area as a new support. Do watch Bitcoin as well. If it starts to drop then we can expect the alts to follow. If BTC starts to rise, hopefully our pattern along with Bitcoin's upward movement will give us some nice gains. -Not professional financial advice. Always do your own research before purchasing. I am not liable for any loses incurred.
by Deftsuo
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
BITFINEX:BTCUSD
by bdfulker2
BTCUSD Bulll pennant???? Btc has been in a long term bull run as you can see in the chart. It has formed what appears to be a bull pennant. The question is where does the flag pole begin??? My chart also indicates if we turn bearish from here where I think the lowest plausable target would be and has all the supports list between where we are and the low. I am not saying thats what going to happen but I still have thought about the possibilities. Happy trading and don't use my chart for trading this is my opinion and not to be used as trading advice. Do so at your own risk
BITFINEX:BTCUSD
by bdfulker2
Failed Rally Bull Pennant at 200DMA Symmetric Triangle BreakdownGuys & gals, sorry to disappoint but it's time to face reality. My Elliott Wave Theory projection is just not happening. This dog just won't hunt; not going to the Moon anytime soon, either. What we have going on is a classic bull pennant in bear market flag formation. It's probably (~94%) going to lead to continuation downtrend. see virtually identical Fig 2: www.investopedia.com Support at 23531 on trendline back to 4-02 & 5-03; and if it breaks there, look for 22800. The flagpole is 1400 points high; the usual pattern is continuation reaches an equal low which would put the Dow ~22960 from top of pennant, if 24356 is in fact the high tip. I charted to 23531 where we have strong S1. Could go lower, 22800 possible. Likely to break down soon- look at the symmetric triangle arrowhead - points to break from 23313 on 7-10-18. I'm afraid break higher up is unlikely at this juncture. Getting really close, not much time left to maneuver I'm afraid. The Elliott waves failed to materialize because intense selling pressure into every rally kills it; pure chaos. Every rally is weaker - look at the top trendline on triangle past week. Got to 24.5k, then 24.44k, then 24.35k today. Each rally is ~100 pts under previous. Today's weak rally was ENTIRELY CONTAINED within the arrowhead- constrained by the upper/lower limits of trendlines. I'm afraid the reaction 'rally' is stopping at Fibo 24%. Got a hanging man Doji today as well. July 6 is Chinese tariff imposition day. Whatever the news is Friday the market will take it badly. Fed report today: "no mercy." Seems the rally was mostly due to 'Buy the Rumor - sell the News" on Fed papers. Turns out rumor was just... rumor; more fake news. This cave stinks of bear. Rolled all my calls into puts today, stop-lossed but got decent prices going both ways, given the mildly bullish price action. In spite of my prodigious efforts to raise the market by mind power projection, the rally has failed, go figure. Probably not long until the break. Pennant could fly for 10-12 days, now on day 6, or fold up tomorrow. Pennant won't fly long and there will probably be very little lift outside the triangle, which is a continuation pattern for downtrend. Barely breaking over the 200DMA above 24327 today likely represents the last near-term high until 2019. Sure I could be wrong and I hope so- Surprise good news from The Donald might change that, but don't bet on it. He's been bankrupt six times folks, U-R-Next! After another downdraft to S1 or S2 will possibly get a lower high in August, perhaps ~24k on Fibo .5 - .618, before it breaks again in September. Maybe. Or maybe it just grinds down all year long. Santa rally in Dec and recovery in Feb likely seasonal pattern behavior. Long-term- probably a weaker decade for stocks. Brace for impact; Good luck traders.
DJ:DJIShort
by DaddySawbucks
2
LTC - LARGE Support touch at crossroads BIG SIGNALSince the initial price break, LTC has just checked into the original bullish support as we got dragged down by the King, BTC. It is a very interesting place we have stopped as this happens to be the crossroads of the bottom support of the pennant and longest bullish support line. As long as it holds, it should send us up and out of the triangle. A lot of longs have been liquidated at this point - look for price chasing if we go up, especially if we spike quickly. This is LTC's last shot. There is also a bullish divergence in the RSI and LTC/BTC is in a giant pennant looking to breakout as well - meaning breaking free from BTC prices for a little while and not being rag-dolled down. July 17th seems to be an important date based off LTC/BTC - then end of the pennant. The start of the moonshot, or the expiration date for litecoin? - very interested in finding out. If you're wondering about the roman numerals, search "three drives pattern" - please thumbs up if you want this updated regularly with targets and what not. This is not financial advice or trading advice. Just interpreting the charts as they change. Do your own research -- you have the internet at your fingertips don't put your whole fate in someone else's hands.
BITFINEX:LTCUSDLong
by CrypticTrading
14
ZRXBTC Bull pennant forming on 1 day chart, Possible scenarios.Hi Guys, Ox protocol(ZRX) have performed very well from last two months currently it's been in a pause mode and looking for the breakout again to form wave 3. If we see on the 1-Day chart it's forming the bull pennant which is going to break out soon. There is a little bit chance that it will go in the opposite direction because the crypto market is very uncertain right now. If you are going to enter in the long position, you can sell it if it goes below the lower line of the triangle which will cause you around 5-10% loss. Generally, the Wave 3 is an approx 1.5-1.618 time the first wave so according to that, we will be at around 40000 satoshi in coming 2-3 months. The profit is around 140% on 10% risk, with the minimum risk-reward ratio. This is not a financial advice you are your own, I am only providing facts here. Will be happy to hear your thoughts, feel free to comment.
Long
by aman12
2
IOTA Price AnalysisCurrent price action looks to be forming a bull pennant on the daily chart. The past two daily candles closed forming tweezer tops signalling a reversal this is confirmed by the Stochastic RSI which just underwent a bearish cross in the overbought region. The kumo as well as the Kijun, and Tenkan sen are all acting as supported this is further reinforced by the .5 fibonacci level. The DI+ has curled inward to reflect the current drop in price. The price should fall next to the Kumo/Kijun to form a higher low before resuming it's current uptrend.
by SpektreSignal
Bluzelle (BLZ/BTC) Dual Breakout Pattern | New HighsAfter raising over $19.5 million dollars in their ICO in the span of 48 hours, Bluzelle (BLZ) is a rising blockchain start-up, with the mission of providing a service allowing users to rent out their extra storage space on their computer to other users. After its ICO, Bluzelle (BLZ) has quickly escalated to a market cap of over $100 million and beginning to attract mainstream media. This is not to say that Bluzelle does not face any challenges internally in the area of project development due to the lack of blockchain developers. Regardless, in terms of technical analysis, Bluzelle (BLZ) is setting up for a breakout towards new highs in the shorter time frame, and to an all time high in the longer time frames. Shorter Time Frame: Orange Trend Line Longer Time Frame: Red Trend Line Analysis from the shorter time frame illustrates that Bluzelle (BLZ) is currently consolidating in an ascending triangle (indicated in orange) with a horizontal resistance line at 7500. Interestingly, on the longer time frame, Bluzelle (BLZ) is simultaneously consolidating in a bullish pennant (indicated in red), with a downward sloping resistance line (indicated in red). A breakout of the resistance line (7500) along with a bullish confirmation at 7850 (green) will allow Bluzelle (BLZ) to propel upwards to new relative highs at 9500. Failure to breakout will lead to a drop back to the supporting trend line at 6500. Shorter Term Target: 7850 Longer Term Target: 9500 (35% Profit)
BLong
by DeejaiRiangkrul