Long
QSPBTC Bull Pennant
QSP/BTC looks to be in a bull pennant consolidation pattern, marked in purple, which commonly precedes a bullish breakout (especially if it follows a bull run as in this case) with a clear support zone in the 2400 - 2500 area.
Tracing open / close positions for support and resistance rather than wicks highlights more of a falling wedge pattern, which again would indicate an impending (although less imminent) bullish breakout. However, I'm more inclined to follow the wicks and call a bull pennant.
I'm very new to TA and would welcome any feedback and discussion.
Tracing open / close positions for support and resistance rather than wicks highlights more of a falling wedge pattern, which again would indicate an impending (although less imminent) bullish breakout. However, I'm more inclined to follow the wicks and call a bull pennant.
I'm very new to TA and would welcome any feedback and discussion.
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