RhythmTrader
Long

Bull Pennant. Simple. Bitcoin.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar

After a rally off of the bottom, $BTC takes a breather. Lower tops and lower bottoms. Trade participation, volume , drops off a bit but comes back as the market breaks out of the pennant . Target the size of the mast (the earlier move from the bottom).

Bull Pennant . Entry on the break out above of resistance ( pennant structure). Target typically equal to the length of the mast (previous uptrend move). Slope is usually neutral.



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