TradeswithTrend

BTCUSD Daily Pennant Pattern Pending Breakout

BINANCE:BTCUSDT   Bitcoin / TetherUS
Highlights:
- Price on daily chart formed the pennant pattern
- Momentum is strengthening indicates a bullish bias
- Wait for price to breakout for a trade setup
- Be aware of the Support & Resistance level after the breakout

Market Trend:
- Consolidating in the pennant pattern

Momentum:
Bullish momentum on Daily chart

Opinion:
- Long if price break to the upside and Short if price break to the downside
- When the price breaking out of the pennant pattern, it needs to get through the support/resistance for further movement

Comments

Nice analysis
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