Bitcoin sitting at triangle apex. Could break either way but looks like a bearish pennant to me which could take us below our weekly SMA200 before Christmas. We have hidden bearish divergence on the 3H MFI so this could break to the downside. TP targets set by using 138.2 and 161.8 fib extensions from the pole height and height of the pole itself taken from the...
A bearish pennant has seemed to form after a significant bearish move, this could be a sign of more to come. Looking at the chart now it looks like the price has entered a period of consolidation and would continue to move further down over the next day or two. The RSI has moved into a position to allow further bearish moves without being oversold. The price could...
As We know pennant pattern was break in H1, Potential correction until Fibo 61.8
EURJPY Short Selling
but enjoy the pips, Pros want to make money!
Basic Trading 101
- Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend.
- They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows.
- The downtrend then continues with another fall in price.
The volume behind this rally is not impressive. Ever since the break of 6k the volume has been declining, which suggests that the last several months of price action is consolidation before another big move. I am expecting another re-test of the descending trendline around $3850 to set a lower high before continuation of the prevailing trend.
BTCUSD is situated into this bearish pennant from 26 november 2018 until today and it most likely in late this month or february we will have a huge,massive and fast breakdown untill 1800-1900$. What is important to understand,i m not a permabear or permabull but this chart is extremly bearish
Beriash pennant is a continuation pattern and NOT a reversal pattern...
Good day Traders
The market has chosen a direction and unfortunately I've almost lost all hope of seeing $5k happen in January, not with Chinese new year approaching and especially not after that huge break to the downside of what is most probably a very large bearish pennant.
It doesn't look pretty. It looks like we might have actually broken that bearish...
Happy new year Traders! First chart for 2019 and back in the saddle after time away (and not too much has been missed it seems).
My trade from my previous post is still active and I'm still waiting for a retracement to our $2630/40 bottom target.
Bitcoin has now broken support of the large bearish pennant which has been holding since our annual low in mid...
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Hello community, Btcabc is looking for another demolition. Reason for that is a Bearish Pennnant.
What do you think?
Target: 0.035245 Satoshi
Make Crypto Great Again
Good day Traders
Here's my synopsis for the festive month ahead.
Bitcoin found the resistance of a large descending channel, is currently testing bearish pennant support and printing a falling wedge on the 15 min for a rise to around $3980, before breaking market structure and dropping to $3500-$3600, where we should have strong trendline support (which had...
SC are Trying to make Bearish Pennant if Bearish Pennat Complete according to Forecast then we can see Continousaly Bearish Trend.
Trade Carefully !!
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
#Bitcoin found support at the base of the ascending channel to potentially form the right shoulder of that H&S.
I mentioned in the previous post that we might not break channel support because there was hidden bullish divergence on the 4H so to watch the $3900 area for a possible rebound which happened at $3950, but price is now right at the apex of a large...