Potential cup and handle forming in the daily.
BTC is still in a range and DENT is holding pretty well above previous lows.
DENT is ready to pump hard in my opinion, the macro structure is there, we may need a bit more of volume but I think the future months looks pretty good for this project.
The Bullish Pennant is one of many chart patterns, in this case is a bullish indicator.
You can use the flagpole as an estimate for your targets, also keep in mind that the longer we take to break this structure, the harder we pump, so the possible 3x from the flagpole is a conservative estimate.
I see that BTC is repeating the same bullish chart pattern.
Symmetrical type of triangle, that indicates the exhaustion of the bears, local bottom.
Also the MACD is giving a buy signal like it did before, this combined with support and resistance gives pretty accurate entries IMO, obviously it could fail.
Huge bullish pennant on the weekly, we've been building this structure for the whole year, and you know that the longer we take to break the structure, the harder we pump.
My target is five cents minimum, I think we could go way higher than that considering fomo and the news DENT has for the next year.
You can see the symmetrical triangle, DENT bullish momentum is not quite there yet but we're close to the main bullish channel from 2020.
Claiming back the symmetrical channel would be great news for dent, this would mean that we're back in a bullish scenario.
Also claiming back all the moving averages will be key, slowly but surely I think it's possible.
I see some things that make me think DENT could pump in the short term.
First of all huge ascending triangle, we've broken some minor resistance, but we still have to break the top of the bigger ascending triangle, that will be a key area of resistance.
Thankfully for now, in the 1H time-frame, we've claimed the 50EMA, which is nice, claiming the 200EMA is the...
As you can see we're still in an uptrend.
Ascending triangle structure is still in play.
The 50SMA worked as great resistance.
Finally we can see that 0.006 has worked as support and resistance multiple times lately, so we can see that's a point were people are interested in buying.
This market correction could be the last one before we head towards the proper alt-season.
I see a great resistance at the 50 SMA, we need to break over it and claim it as a support to see a strong move to the upward direction.
Symmetrical triangle right about to end, so we'll see if we go up, down or we go sideways for a longer period.
I think I've been looking at DENT from the wrong perspective. In the longer time-frames I can see how DENT did a golden cross in the daily chart. Last time it did that DENT went up almost 100x since the signal.
Don't get too caught up in the lower time-frames, the price is way too unpredictable there, I think.
But what do you guys think? Opinions?