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Pennantbreakout

The current ETH situation | ETHUSD | BULLISH OR BEARISH?ETH has been on quite a run lately based on fundamentals moving from $1700 up to the price of $2400 in the past 10 days, however the price has been consolidating within the current price for the past few days. This is never bad as the price needs some time to create more support and to rest so it is not seen as overextended leading to a sudden drop off top. In the following paragraphs I shall be discussing my honest opinion on the current ETH market, however, everything I state in this article is based on my own opinion and should not be taken as a signal to buy or sell your ETH. in order to understand what is going on in the chart analysis above ill start with the pennant formation marked in yellow. As you can see this formation broke to the downside, which theoretically is how these formations play out, as they are continuation patterns and the origin (flagpole) is from a bearish movement. The price bottomed out after the breakout at the $1700 level. Another formation was created there after which is also a continuation pattern. The megaphone formation: The name derives from the fact that it looks like a megaphone which is fairly obvious. These formations generally are a strong confluence among other confluences that the price is going to move a certain direction. As the formation is a continuation pattern the pattern theoretically breaks out according to that, which it did. The target point (TP) of this formation will put ETH at around $2500, which is very convenient and almost to obvious, as the long term 50% fib retracement level sits within a few dollars from the TP adding further confluence to my prediction. Therefore it could be strongly argued until proven by price that we are within a consolidation phase, just as most of the market is. The range in which we are consolidating seems to be between the $1700 level and the 50% fib retracement ($2523), However the Golden pocket will also play a key role and keeping the price back before it reaches these levels of support and resistance. The MacD is almost slowly beginning to turn to the bearish momentum which will line up perfectly with the TP being reached and the retracement to the Golden pocket being a reasonably valid prediction, if the price plays out the way the technicals indicate. Therefore for the short term at least I remain neutral on the price of ETH. This area of consolidation can be seen as a great buy in area for those who are in for the long term, but for those who are trying to make a quick trade, I advise you wait for a move out of the range of consolidation before you place a short term trade, as the market is very tricky lately. Don't forget to leave a like if you agree or disagree with this article and if so leave a comment explaining why you disagree, am always open to different perspectives. Happy trading and thank you! #notfinancialadvice
BINANCE:ETHUSD.P
by Crisp_Flow
BTCUSDT is creating an important triangle 🦐BTCUSDT is creating an important triangle between the weekly structures. The structure is like a bearish pennant, but IF the price will have a breakout from weekly resistance, we can see a retest on 44k, otherwise, if the price will lose the weekly support, we can see a retest on the next weekly support, around 20k. The best way is to wait for the next move. Bearish pennant Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend, offering you an opportunity to go short. 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 similar-sized fall in price. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.ording to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
6
COIN bearish pennant breakoutI am usually not much of one to talk about stocks as much as cryptocurrencies (as my username indicates), although I feel like it would be an injustice not to mention the current breakout of a bearish pennant for coinbase. It started to form a wedge yesterday, but looks like it has broken downward today. As with most IPOs it is often tricky to determine trends immediately, but it looks like COIN is perhaps starting off heading downward first. As to whether BTC's current downtrend will have any effect on COIN or vice-versa should be interesting to keep an eye on, as the correlation might begin to show itself over the next few weeks/months.
NASDAQ:COINShort
by crypto_trends
#LTC, #Litecoin price after the pennant?A quick look at #Litecoin (#LTCUSDT, 4HR, #Binance): Price broke the upper resistance of the pennant pattern on April 5. After reaching T1, it stopped at $297 on its way to T2. Price is now retracing to S1, where it might bounce back. If not, next supports are S2 and S3. What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
by BitfulMind
4
#TWT, #TrustWalletToken UpdateA quick look at #TrustWalletToken (#TWTUSDT, #Binance, 4HR): Price broke the upper resistance of the pennant pattern on April 4 with a nice volume spike. Since then, we missed TP1 by a $0,01 and lost support at the $0,80 level. Currently, we are testing support at $0.74. If it manages to hold and push higher through resistance, we could see #TWT resume its path towards T1. If not, price might go back down and try to rebound from the EMA200, or in the $0.65-$0.62 range. To read more about TWT on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
by BitfulMind
#DOT, #Polkadot Breakout?A quick look at #Polkadot (#DOTUSDT, #Binance, 4HR): Price broke the upper resistance of the pennant pattern earlier today, April 17, hitting its ATH at $48.36. Since then, the 1HR chart shows what to me seems to be a confirmation. I opened a position at $44.63. If DOT manages to flip R1 into support, we can try to reach TP1. If it does not hold, price might go back down to S1 or to the EMA200/S2. If you want to read more about Polkadot on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
Long
by BitfulMind
$SGLB entry PT 3.57 Target PTs 9-15-24-80 and higherSigma Labs, Inc., a software company, provides in-process quality assurance software to the additive manufacturing industry under the PrintRite3D brand. It also offers PrintRite3D Lite, which has a smaller footprint and is geared towards single-laser machines for research and development, or small production lots; PrintRite3D Pro, for single, dual and quad laser machines and for environments with less than 10 machines; PrintRite3D Enterprise for plant-wide networks; and PrintRite3D for Direct Energy Deposition is based on a laser process in which a laser beam generates a melt pool on a substrate. The company also provides PrintRite3D-enabled engineering consulting services. It serves aerospace, defense, oil and gas, bio-medical, and power generation industries. The company was formerly known as Framewaves Inc. and changed its name to Sigma Labs, Inc. in September 2010. Sigma Labs, Inc. was incorporated in 1985 and is headquartered in Santa Fe, New Mexico.
SLong
by UnknownUnicorn19246015