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Pennantbreakout

zil/btc pennant breakoutBINANCE:ZILBTC i think Zilliqa, the flavor of the week, has been forming a very obvious pennant, in its bitcoin pairing on Binance. With how young the coin is, there's not a lot to go off of, other than instincts, therefor not a lot to say here, This is my first published idea, for the record. I would really like to hear some other peoples opinions of this coin, if someone wouldn't mind sharing that in the comments, along with any other comments, questions, criticisms, thanks for checking this out! BINANCE:ZILBTC
by crypto_666_hustler
8
BITCOIN (BTCUSD) - Clear signs of major trend change ahead(H4/D)Hello All! Lowering recent bearish trendline (red) and the major ascending channel are forming grand bullish pennant formation. After two consequent breakup attempts, the price kept always returning inside the major uptrend pattern. RSI is demonstrating strong support for BTC higher low on both H4 and Daily timeframes. Interestingly, the amount of short positions is showing clear bearish divergence: The breakup above the indicated red line supported by solid volume increase, will ensure the validity of the grand ascending channel and its possible targets. To sum all of this up - there are definite signs that BTC does have the chance to change current downtrend to bullish in the near future. Thank you for reading! Press like if you liked it :-)
BITSTAMP:BTCUSDLong
by OceanBlue
GBPUSD LongRight now we are seeing price action consolidate within a pennant inside our upward channel. I am expecting this structure to continue to consolidate and eventually break out upwards to our first take profit at 1.41587. After that, I am looking for bullish signs to hold this pair through the week to test the top of our channel at our second take profit. Our stop loss could go down farther if you are willing to accept a larger initial draw down. We're goin to the moon with this one! For more information on technical analysis and signal calls, please visit rileyedwardsfx.com. Happy Trading!
Long
by T_Thatcher
[LTCUSD] Consolidation Pattern Coming to and End Soon?LTC appears to have formed a symmetrical triangle in its consolidation period following its big run. Now with the Litecoin Cash fork passed, and the price holding above the rising lower trend line, it looks like the 5 wave contracting correction pattern is coming to its end. I am expecting a breakout above this triangle in the next wave, but Wave E could actually be part of Wave D which could mean another wave cycle inside the triangle before a breakout. If a price action can sustain levels above $225-$230, return to the previous bull trend is likely with a flag/pennant target price of $290, roughly. There is still plenty of opportunity for resistance before that though, the green and red upper trend lines in the $240-$260 range for example. If price movements continue past this range then we can easily go up towards the $300 area, in my opinion. Thanks for checking out my analysis, please let me know any feedback/criticisms you have! *This is not a recommendation to buy or sell, trade at your own risk*
COINBASE:LTCUSD
by NYFinancials
Bullish Pennant after strong move - GO LONGPlease like and subscribe if you want more analysis from me... Litecoin reacted positevly on a new that it can become a fork - right now we can see a Bullish Pennant Formation with projected MPO -0.35% near 300. Litecoin declined into our projected important support as expected and turned just like BTC -2.92% and ETH, so it’s first evidence that correction is over. On weekly, logarithmic scale chart market is showing a correction of wave IV that can send price higher from current support based on a weekly reversal candlestick . On daily chart you can clearly see only three waves (a)-(b)-(c) down with ending diagonal in wave (c), which is the most important evidence that correction could be completed, especially if we consider that on 4hour chart recent push out above upper line of an ending diagonal can turn into a support. There is a chance that 1175 is broken which can make room for 200, or even 300 area.
COINBASE:LTCUSDLong
by I0_USD_of_Warren_Buffett
XBTUSD BTCUSD bearish pennant detailed analysisI have been tracking a bearish pennant on XBTUSD for a number of days and it has just crossed the 3/4 duration marker, which means that it is likely to resolve soon. We are currently trapped below the 0.382 fib and even if we break into it again then we're rapidly running out of space in the pennant; it will resolve (one way or the other) by 2nd Feb. This pattern seems to meet the criteria of a bearish pennant: 1) strong bearish trend with heavy sell volume to form the pole 2) volume decreasing during the congestion period, i.e. throughout the period trapped in the pennant 3) relatively short term duration in comparison to a triangle 4) triangles normally resolves between 1/2 and 3/4 duration but a pennant usually resolve after the 3/4 point has been reached I measured the XY move and copied that to an approximate breakout point and that results in a target price of around $7500, which aligns with the confluence of both the 0.786 fib level and the 1D 200 MA, so it feels like it could be a reasonable target to shoot at.
BITMEX:BTCUSD.PShort
by tigerpause
2
VERGE BREAKOUT (VERGECEPTION) | ...A Pennant within a Pennant.Fellow Traders, So I've been following the verge drama since the McAfee tweets. I've been keeping up on the news, I've been following the tweets between XVGwhale, Verge themselves and everyone inbetween. Ive been on both sides of the fence, I've been a FOMO'er a FUDDER, Ive bought Ive sold, Ive HEDL'd (past tense of HODL?) and traded, And through all of this I started making some calls- Good calls. And I wanted to share my next one with you because I truly believe this is how it will play out. I predicted the change in resistance and even made some %'s on the way down. I called it the pennant within a pennant. This is the sliding door of altcoins - the schroedingers cat. Its both dead and alive,its music and its silence. Its love and its hate. I have never come across a coin with so rich a tapestry woven behind it. Its been a hell of a ride. So without further ado, my analysis.. Verge's price action has been consolidating since the twitter drama, it is about to break out of its pennant. From here it will drive upwards and test the 1380-1450 range on the top 'Daddy line' of resistance. From here it will bounce back down (unless mondays upcoming news is monumental and it turns out JustinVendetta is Satoshi himself and Verge is the real bitcoin and has been all along) and find support at one of 2 levels. 1. The new line of resistance surging up (ho line), 2. The old line of resistance trailling at the back (daddy line). This is where the party splits, we enter the matrix, multiverse theory. The price action surges up off the ho line to previous resistance of 1700 sats, where it either bursts through like the alien chestburster scene (unlikely but possible), or rebounds off and finds support on the previous Daddy resistance line. Or it pushes through the ho line to whence it came and finds support on the daddy support line and finishes off the original pendant before breaking out. The more positive outcomes from this story are more likely in my opinion as it is on new support and theres is news coming out tomorrow.. Regarding the chart I have labelled it as best I can and changed colour every time the story turns. These 2 stories could also give birth to a baby story, that has properties from both scenarios... ....a transverging story if you will
by Mysterion94
10