Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
The previous high at roughly 42 k is now in alignment with the 50 day exponential moving average. This should provide for excellent support for BTC to take off.
Ethereum has been climbing this ascending channel nicely for quite some time. With a recent perfect retest of its center line, I'm hopeful for a powerful breakout soon.
DOT appears to be consolidating between converging trend lines—the pennant. I expect a breakout movement in the same direction as the initial large movement soon. Strap on cause we're heading for the moon.
