i personally find bullish penant as a bearish pattern. More often it went down for me. I believe this is going to be the case too, because the price is very extended, need a correction
Soul_Investments
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@Brodla, there are bullish and bearish pennants. I use the chart patterns indicator from Tradingview and when these bullish pennants are drawn on the graphs it usually reached the targets that are indicated by the indicator. I happened with other crypto’s that I have analyzed as well. Of course sometimes a pattern changes. But I remain bullish on VTHO, because when you look at the weekly time frame it just broke through a very strong resistance zone.
Brodla
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yeah, exactly bullish penant went down for me multiple times. pattern indicator is paid that you are using?
Soul_Investments
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@Brodla I understand your point of view. About the indicator, yes only premium can use this. It saves a lot of time in stead of doing it myself.
Brodla
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@Soul_Investments, also it is not a bullish penant, it's a descending triangle which is bearish pattern
MyCryptoParadise_Nathan
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By recognizing this pattern and its potential implications, you're demonstrating a keen understanding of technical analysis and market dynamics.