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Pennant

BITCOIN - Price can exit of pennant and continue grow to $68350Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A not long time ago price declined to the support area, which coincided with support level, and started to trades in this area. After few time, BTC entered to pennant, where it at once bounced from support line and made strong upward impulse. BTC broke $51800 level and soon reached $61300 level, which coincided with one more support area. Soon, price broke this level and rose to resistance line of pennant, after which it corrected $51800 level. Then price some time traded near this level and a not long time ago it bounced up to resistance line of pennant. Now price I think Bitcoin can correct to support line and then bounce up to $68350, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
4
BNBUSDT - Price can leave pennant and rise to $430 pointsHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 Recently price trades near support level, but later it declined to support area, where BNb entered to pennant. Then price made strong upward impulse from support line of pennant to $387 points, thereby breaking $350 level. BNB made little correction and then continued to grow to next support level, which coincided with one more support area. Later, price broke this level too and rose to resistance line of pennant, but in a short time later it declined to support line. Soon BNB bounced of support line and rose back to resistance line, breaking $405 level, where continues trades near. Now, I think Binance Coin can fall to support level and then bounce up to $430, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
Bitcoin can exit from pennant, make correction and continue growHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some days ago started to trades in the range, where it at once declined to the buyer zone, which coincided with the 51300 support level, but soon it rebounded back. Later BTC reached the top part of the range and then turned around and in a short time declined back to the buyer zone, where the price some time traded. After this, it bounced up from this zone and few time traded near the support level, after which BTC fell back to the buyer zone and soon made a strong upward impulse to 54800 points, thereby breaking the 51300 level one more time and exiting from the range. Next, the price started to rise in an upward pennant, where it soon reached the 60600 current support level, which coincided with the support area and later broke this level. Then BTC rose to the resistance line of the pennant, but after this it turned around and in a short time declined to support area. After this price bounced up to the resistance line of the pennant back, where it at the moment continues to trades near. In my mind, Bitcoin can fall to the support area, thereby exiting from the pennant and then it will start to grow. So, that's why I set my target at the 64550 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
A quick reminder about the previous Wedge/Pennant on Total chartSo I started charting this pattern in 2022 it was a falling wedge but on even larger time frames I realized it was not just a falling wedge but a bullish pennant as well. We broke up from this pattern all the way back at the beginning of 2023 and as you can see here on the monthly chart, price action did what it usually does once it breaks up from a large timeframe wedge and we are already well on our way and have unquestionably validated its breakout. What struck me as astonishing about ths pattern was that its measured move target was all the way up around 17 trillion. However not long after charting the target, maybe a couple months at most, news broke I think possibly via Forbes that Black Roc was saying 15 trillion in liquidity was going to be soon flooding into the crypto markets. When I read this it suddenly made the 17 trillion target make perfect sense. Now that we are seeing these ETFs cause huge pumps week after week I wanted to kind of repost a slightly cleaned up rendition of the previous version of this chart I posted to make it slightly easier to keep an eye on price action as it continues its way towards such a massive target. Also to remind people that this is where we are heading. Interestingly enough, another bull pennant we broke up from on the larger timeframe logarithmic chart also had this exact same target as its full measured move. So I suppose there is a chance that since it will take 2-3 bull markets for that previous bull pennant tor each its fulll target tat ts possible for this current pennant to not reach its full target in the current bull run but instead the very next one. However at the parabolic pace and momentum we are starting to gain thanks to spot etfs, it’s very very plausible we can reach 17 trillion on the current bull run. I will be keepin a close eye on this target, the pi cycle top indicator, and my pitchfork of channels that tie multiple cycles tops and bottoms together for the best signal of when the top is truly in. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
USDCHF - Price can exit from pennant and then continue to growHi guys, this is my overview for USDCHF, feel free to check it and write your feedback in comments👊 A not long time ago price made upward impulse from support area to $0.8885 points, breaking $0.8770 and $0.8835 levels. After this, price started to trades in pennant, where it soon bounced from resistance line and declined below $0.8835 level. Next, CHF some time traded near this level and later bounced down to $0.8770 support level and even lower to support line of pennant. Price at once backed up, making fake breakout, and rose to resistance line of pennant, also recently it exited from this pattern. But now, CHF trades below this line and I think Swiss Franc can break resistance line, make retest, and then continue grow to $0.8835 level If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
The 1 month Linear Chart’s wedge target is nearing I just recently posted about the logarithmic wedge which is also a bullish pennant and how it will take us much higher, but also wanted to post a chart with an update of the other wedge we also broke up from back at the beginning of 2023 (shown here in pink). It has now been a little over a year since the breakout of this monthly time frame pattern and like clockwork the price is doing exactly what I had anticipated it eventually would all the way back then. We can see price is now nearing the wedge target of 2.493 trillion for the total crypto market cap. This is the next zone to watch where we could potentially experience some sort of correction after reaching. I went ahead and also included the flagpole of a pennant that is better visualized on the weekly chart and it is telling us that eventually we should also reach its target of 3.436trillion as well. Odds are very good we will see consolidation in between the 2 targets. Being a 1month pattern, that is why it took so many multiple months to get close to reaching this first target, and it can also take several more months before reaching the next higher target is well even though they both broke out at the same time. Looking forward to pressing play on this chart a few months from now and eyeing the price action inch closer to the top target. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
Ripple can bounce up from support line of pennant to seller zoneHello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price recently started to trades in the range, where soon price declined to the 0.5070 support level, which coincided with the buyer zone and then continued to rise. But when it reached the top part of the range, XRP turned around and declined lower than the 0.5070 level, thereby exiting from the range. After this, the price started to rise in an upward pennant, where it at once rebounded from the support line and rose to 0.5070 level and in a short time broke it one more time. Then XRP some time traded near this level and later made a strong upward impulse to the resistance line of the pennant, breaking the 0.5570 resistance level, but soon price turned around and declined back. Also, price tried to back up to the resistance line, but failed and declined to support line of the pennant. But recently it rebounded from this line and started to rise. So, now I think that Ripple can correct to support line of pennant again and then rebound up to the seller zone, breaking the resistance level. For this case, I set my target at 0.5635 points inside the seller zone. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
Oscar Health (OSCR) - Pennant Formation and CoilingCompany info: Oscar Health provides a personalized experience for those seeking affordable healthcare. It offers incentives to its customers to stay healthy, including cash rewards. Oscar offers tailored services and a concierge care team designed to help its members find the medical care and services they need. Technicals: It is again forming a flag and looks poised for a breakout. ADR is high which I like because the breakout can be explosive for the pennant. Ideally, a strong 1st hour today can be the catalyst to propel it higher. Will update price targets as we go along. Goodluck!
NYSE:OSCRLong
by Kemsdale
Binance Coin can exit from pennant and rise to 270 levelHello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price a few time ago traded in a range, where it two time fell to the buyer zone, which coincided with the support level. In a second try, BNB rebounded from this zone and rose to the top part of the range, after which turned around and in a short time declined back, thereby exiting from range and breaking 297 one more time. Then the price started to rise in an upward channel, where soon, BNB rose higher than the 297 level and later made a correction movement to this level, which coincided with the support line of the channel. Next, the price bounced from this line and continued to move up in the channel to the resistance line, but when it reached this it, BNB rebounded, entered to the pennant, and made a strong upward impulse to the resistance line of this pattern, thereby exiting from the channel and breaking 350 level, which coincided with support area. But a not long time ago price rebounded from this line and declined to support area. At the moment, BNB trades near the resistance line of the pennant and I think that the price can fall to the support area and then continue to move up, thereby exiting from the pennant. For this reason, I set Take Profit at the 270 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4