BULLISH!?: Potential Pennant in the making!
Hey Crypto Nerds,
Reviewing on the 4h time frame i can definitely see the Pennant forming nicely. As stated in previous Ideas i outlined the Major and Minor Support zones which i will be keeping in all my future ideas until no longer required. BTC seemed to have bounced from the Minor support zone around the 0.618 FIB and retraced 23%, now trading above once was old support and old resistance at the 0.5FIB which has been touched a few times now.
As we all know, Pennants are Bullish and with that being said i expect a push up to test the 0.382 FIB at around $12450 with an expected pull back and then a fire up to test the recent ATH at 14k. Overall trend looking at it currently can be hard to tell but i have a tentative Bull Support Trend Line in place as you can see.
STAY FROSTY!
Aus-
Reviewing on the 4h time frame i can definitely see the Pennant forming nicely. As stated in previous Ideas i outlined the Major and Minor Support zones which i will be keeping in all my future ideas until no longer required. BTC seemed to have bounced from the Minor support zone around the 0.618 FIB and retraced 23%, now trading above once was old support and old resistance at the 0.5FIB which has been touched a few times now.
As we all know, Pennants are Bullish and with that being said i expect a push up to test the 0.382 FIB at around $12450 with an expected pull back and then a fire up to test the recent ATH at 14k. Overall trend looking at it currently can be hard to tell but i have a tentative Bull Support Trend Line in place as you can see.
STAY FROSTY!
Aus-
Comment:
Looks like we are starting to push out of the Pennant :) hold on!
Comment:
Looks like this is playing out nicely!