LINAUSDT is inside a triangleLINA is currently forming a pennant pattern, which is a consolidation pattern that resembles a small symmetrical triangle. In this pattern, the price action is characterized by converging trend lines that form a triangle shape, with the upper trend line sloping downwards and the lower trend line sloping upwards.
The pennant pattern suggests a period of indecision in the market following a significant price movement. It often occurs after a sharp uptrend or downtrend, indicating a temporary pause in the price action as traders gather momentum for the next move.
According to Plancton's Rules, if the price of LINA is poised for a breakout from the pennant pattern, it would present a potential opportunity for a new long position. A breakout occurs when the price breaks above the upper trend line of the pennant, signaling a potential continuation of the previous trend.
Traders following Plancton's Rules might consider opening long positions if LINA experiences a breakout from the pennant pattern. However, it's crucial to exercise caution and wait for confirmation of the breakout, such as a strong candle close above the upper trend line, to avoid false breakouts.