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Bearish Pennant

BTC USD 4H. Bearish Pennant..Small 'Bart Simpson' Incoming? Line chart of BTC. Here we have a nice example of a bearish pennant. But, these do break to the upside as well. I think this one will! Partly because BTC.D (Dominace) is about to touch strong support. A little 'Bart Simpson' pattern may emerge to climb above the 180 EMA to around $60500 USD. But, this is where we may see a rejection as price at this level will be retesting the bigger of the two ascending channels lower trend line! If we get over that then then I would imagine a challenge of the ATH a distinct possibility. Short? It needs to be addressed. Although I am long, the short possibilities need to be recognized. The bottom trend line of the bearish pennant is in red. I will be paying particular attention to any break of this pennants support. The second area of defense I am particularly interested in is Trend Line A. I would rather not see that get broken. This will definitely invalidate my long idea! Two ascending channels shown. From the steeper one we have moved into a more shallow one. We could be gently rounding off if we carry on losing momentum.
COINBASE:BTCUSDLong
by iDoji
COIN bearish pennant breakoutI am usually not much of one to talk about stocks as much as cryptocurrencies (as my username indicates), although I feel like it would be an injustice not to mention the current breakout of a bearish pennant for coinbase. It started to form a wedge yesterday, but looks like it has broken downward today. As with most IPOs it is often tricky to determine trends immediately, but it looks like COIN is perhaps starting off heading downward first. As to whether BTC's current downtrend will have any effect on COIN or vice-versa should be interesting to keep an eye on, as the correlation might begin to show itself over the next few weeks/months.
NASDAQ:COINShort
by crypto_trends
Gold's descending/bearish pennantWe was supposed to post this idea yesterday when Gold was still around 1717, we did our analysis and with our fractals lined up perfectly, we were able to see the bearish pennant even without trend lines. In our previous idea, we talked about Gold's Head and Shoulder pattern, it has completed a shoulder and it's still trying to form a bottom for it's head, it hasn't really found that support to hold it''s head yet, whenever there's a support, it breaks it and makes another low. Gold did a fakeout to around 1687 and revered back up to 1699. My Idea is that if it breaks below the pennant without faking out, we are getting a move down to the 1650 area but if it doesn't break below the pennant, we are definitely getting a retest of the resistance at the 1720 area . This is not financial advise, this idea is for educational purposes only and a way of giving you guys another perspective different from your own.
FX_IDC:XAUUSD
by LaBOSS_FX