Good day fellow traders! BTCUSD is forming what looks like to be a Bullish Pennant. The price target for this pattern would be $43k if it plays out. There's some resistance at $39.1k and support at $37.6k. This would be about a 12% move to the upside. (Short-Term) trade opportunity. :)
Disclaimer: I'm NOT a financial adviser...just a regular "joe" voicing my opinion :)
Peace Love Money ;)
Disclaimer: I'm NOT a financial adviser...just a regular "joe" voicing my opinion :)
Peace Love Money ;)
Comment:
Rejected at $40.k...found support at the $37.7k level. Currently waiting for further price to determine trade.
Trade closed: target reached:
This pattern ended up solely as a descending triangle not a bullish pennant. Better price target should have been $40k instead of $43k. Trade has been close.
Profit Percentage: 3.75%
Profit Percentage: 3.75%
Resistance has been broken.
Will a pull-back occur into resistance level and turn support?