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 ;)
Note
Update:Resistance has been broken.
Will a pull-back occur into resistance level and turn support?
Note
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%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.