Droz_TA

COCOS / USDT 1H - Bull pennant, loading up strong move?

Long
BINANCE:COCOSUSDT   Cocos-BCX / TetherUS
COCOS / USDT 1H. Price has been consolidating, ultimately creating a bull pennant pattern. The bull pennant pattern will most likely continue the upside pattern. Also, note that the volume has been steaming off. We will see a significant increase in volume if a breakout should occur. COCOS has been performing like a beast. Will we eventually see a strong move upwards?

If the price breaks the upper line of the pennant - I recommend that you wait for a solid confirmation - then enter a long position.

Take profit ideas:
TG1 - 4$
TG2 - 4.7$
TG3 - 4.77$
TG4 - 5$
TG5 - 5.38$
TG6 - 5.75$
TG7 - 6.1$
TG8 - 6.5$

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I keep it simple and clean!
Likes, comments, and follows are dearly appreciated.
Let me know what you think and which ones you would like for me to analyze next.

Trade safely!

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About COCOS:
"Cocos-BCX is a public blockchain platform aiming to create a complete run-time environment for games with multi-game system compatibility, providing game developers a user-friendly platform for blockchain game development. In addition, Cocos-BCX aspires to bring users complete control and transparency over in-game virtual assets.It is building a development environment with gaming experience and game economics in mind. Game developers can easily migrate conventional games to the blockchain without the need to learn blockchain programming languages."
Source: Binance
Comment: UPDATE: Ignore the first target. I would rather set the entry point around 4.5$. I would also have chosen a slightly bigger time frame such as the 2H, as I expect some big moves upwards. Currently, COCOS has a total market cap of 162m Dollars, which is why I expect an aggressive move upwards, IF the price should break out of pennant.
Lastly, notice the double bottom formation within the triangle, which could further strengthen the notion that the price will continue its move to the upside.

Trade safely!