BTC/USDT 4 hour chart shows a bearish pennant formation. The 18K current price level is still show greater rejection. So I think price will test the 23K - 25K level before we see a downside movement to around 17K - 15K level. This is my idea. Not a Financial Advice. Trade safe and trade well.
The price retested exactly the 19k as I told you in my previous analysis and now the price got a rejection from the 20k static resistance and dynamic resistance (0.618 Fibonacci level) and the market failed to create a new Higher High. How to approach it? The price could grab new liquidity from 21k area and create a new bearish impulse below the 19k, so If ...
The price is in the accumulation phase between two daily structures, 1$ and 1.4$. On the 4h timeframe, the price is creating a pennant and had the market had a false breakout from the channel on 1.5$, it got the liquidity in order to retest the support. How to approach it? The price needs to create a new breakout from the daily resistance and 4h resistance. it...
There are 4 important S/R levels on $Suku chart to pay attention. A valid breakdown of $0.09 may provoke a 32% fall, as the next crucial support is at $0.06. That'll be a disaster. In a possible relief rally #Suku may reach prices as high as $0.20.
A triangle is a continuation pattern, and the current trend is long, so this breakout, aside, depending on where we close, price could snap right back up through resistance. I would wait to get in short until a few more lows get cleared!
Bearish Pennant and and retesting the bottom of the descending channel
ETH is currently attempting to distribute into a bottom. Looking at history as a guide, I found that it broke out massively into a pennant after basing during its 2015-2016 time period. After consolidating from 2016-2017, it broke out once again- rallying a whopping 23,000% in a year. Notice that this major breakout occurred when the price found support right at...
The price is creating a pennant above the Weekly support of 0.51$, in that area, the market created a demand zone (0.48$) so the price could grab new liquidity from it. How to approach? IF the price is going to lose the 4h support on 0.54$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly...
The price is creating a pennant on the key level after a clear rejection from the 8.8$ area. and retested the 0.618 Fibonacci level as new resistance How to approach? IF the price is going to have a breakout from the pennant and retest the key level as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple...
The price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase. Usually Pennant is a continuation pattern. How to approach it? We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new...
Trade Setup In Shib/Usdt On 15min timeframe. Pennant or Symmetrical Triangle Type Pattern In Shib/Usdt.
With over 180 pips profit (3 positions) since the last publication of this pair (see link below for reference purposes); An ambiguous scenario we have here as participants appear to have fallen into an indecision phase right under the 1.259 area (which is serving as our key level at this juncture in the market) - forming a pennant (trend continuation) structure....
Despite the obvious that the AUDJPY remains on the front foot around 92.55, extending the two-day uptrend; I am of the opinion that the current structure might incite a short term bearish move soon. Why? If we closely into the structure on the daily time frame, we will notice a reversal structure evolving since the price tested 95.5 area. The appearance of a lower...
The meme stock still feeling vibrations from its huge bull run last year. Looks like it may be on a bearish trend that could reverse if the pennant holds true. If the stock breaks the formation to the upside, expect it to run up to the top trend line between $160-180. RSI is not showing signs of Divergence so on the other hand, GME may continue down and test the...
This is a lower conviction play as the one can argue that the pennant did not enter a consolidation and is part of the continued upward trend however, I would argue that since pennants are continuation patterns with representing a "brief" consolidation, magnitude of the entry (into the pattern) should not matter. But entering from the bottom, we saw some profit...
* Was building out a cup an handle pattern * Was due to break above $19 but due to the current market conditions it pulled back * Since then $CINT has been in a range that's getting tighter and tighter * Currently it's forming a pennant pattern * The price has to break out of this pennant by May 11th, 2022 either to the up side or to the down side * Just yesterday...
Forming a bullish pennant/triangle, and looking as it it will break to the upside early on in its formation. Wait and see. NOTE: This is not a recommendation to buy, sell or hold
Bitcoin is trading sideways last 5 days forming a symmetrical triangle and a pennant at the same time. In modern markets there are not bullish and bearish patterns on its own. To be profitable, you need to use them in conjunction with other indicators, news etc. Volume is declining, it's normal during the consolidation phase. In the long run BTC is still in a bull...