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Bullish Pennant

BTC UPDATE - Important moment for BTCWe have formed a bull flag within the the current up channel, we are coming to the apex of the flag resistance and the channel support, with both RSI and MACD bullish, the only thing missing is volume, we have had a drop off in vol over the last 15 or so hours, if we manage to get that much needed volume, we will break upward toward the down channel resistance and the elusive 10k mark. However, if we do not get a pick up in vol, we are likely to break the down channel support and head down to the flag support at around 9160. Keep an eye on the volume levels here wolves!
BITFINEX:BTCUSD
by CryptoWolfPack
2
Current bullflag has morphed into ascending triangle bullpennantWe can see on the 4 hr chart the current bull flag has started to morph into an ascending triangle bull pennant. Probability is good it will break upward....that should trigger the cup and handle that is still in play if that cup and handle is valid....However this entire bull runs price action also appears to be trapped inside a rising wedge which are patterns that usually break downward...It is worth keeping an eye on because if somehow broke downward it's projected drop target could actually take it under the eve bottom trendline. I have marked it on this chart wth 2 blue trendlines. It was not the easiest trendlines to keep consistent so I'm hoping the wedge is invalid as I would really like to see this adam and eve bottom be validated and triggered. So hopefully the cup and handle is triggered instead and lifts us out of this potential rising wedge pattern.
BITFINEX:BTCUSDLong
by DrDovetail
6
Bitcoin (BTC) : Day Chart : Bullish Pennant : BreakoutHere's my view on BTC: It's been months since I've seen any bullish pennants in any charts, so, it would be appropriate that BTC's launching its next cycle from this positive chart signal.. It's been rather an extended retracement, but it's proportional to the previous rise, which is perfectly logical.. Time is irrelevant to chart patterns in my opinion.. It's the distance traveled that matters.. You may have noticed that the most recent drops in BTC have apparently lost its negative effect on the majority of ALTs.. This is simply because they have far smaller cycles to complete and have, for the most part, all completed their absolute lows.. You might have noticed these.. They're the really tall hammers that have been, and will occur for all ALTs.. (Something to keep in mind and study for the best entry points, at the bottom of the next downtrend.. Yes.. There will eventually be another one of these, and it may last much longer..) Back to BTC.. In short, as indicated with the grey lines, the support and resistance levels have been coming closer together at an increasing angle, which is good news, since, obviously, it shortens the time requirement to complete the pennant, and indicates increased aggression on the part of BTC.. There was a brief pop a few hours ago, which supports my view, when judging its speed and trajectory.. When the price breaks the green resistance line and passes beyond it, I'd expect to see something of a cacophony of breakouts by the ALTs.. Some will do really amazing things, such as BUS did yesterday, by breaking out to 1000%, so yes, to the non-believers, it is possible for this to happen.. Predicting it is tricky, but then again, should you be able to identify as few as 3 of these guys, and could string them up, one after the other, you'd be a millionaire.. Now there's a novel goal to aim for.. Anyone interested in having more detailed discussion on my findings regarding this particular topic, and possibly undertaking a project in identifying and successfully trading such opportunities, you're welcome to contact me.. Should you have the stomach for it.. After all that.. I believe BTC's going up.. From this current point.. It will not go lower than what it is right now, and I really wish the self indulgent Doomsday TA's would quit their negativity.. This is not a popularity contest.. We're all here for the same reason.. It's bearish no more.. This is crypto.. It appreciates.. Projections.. Well, for a while now, I've been seeing 10x projections in many (just about all) coins, consistently.. I understand the disbelief, but BUS proved yesterday that the ratio I've been finding is not wrong.. Granted, not all coins will do 10x in one run, but it will most certainly happen again.. Multiple times, and more often than not, in the smaller coins.. Not to be outdone, I believe BTC will do the same, since it ultimately governs the proportional growth of the ALTs and therefore must honor the relationship they're in.. I see BTC at a level of $89 000, in the very near future.. What happens after that, will indeed be pure speculation, but it is where the charts point towards, and happens to also be 10x the current price.. So make up your own mind on this.. What will happen next in this space, will stun, awe and make history.. Consider yourselves early adopters when compared to those who will enter the market by August.. Guess our profit will have to come from somewhere, yeah? Good luck.. Trade safe..
COINBASE:BTCUSDLong
by Lezz
3
VEN potential reversal, finallyMACD about to reverse to bullish on the 4hr, rsi is hitting the historical reversal zone, and it respected the bearish pennant that is drawn in lighter orange. We would really need a good push with volume, which is definitely possible with VEN's new BMW partnership announcement. However, we did just have the rebranding event, and I feel like everyone who wants to own ven, already does, so this is where we may run into issues with the volume. I will update when we break up, down, or sideways from the triangle.
V
by DeepPuddles666
BTC bull run pushed by Elliot Wave, Wolfe Wave, Bull Pennant Lets assume that since the bottom We have seen a major Elliott Wave forming and we are in the firs major corrective wave. In the first wave we have seen 5 sub waves and are currently in sub wave C of the corrective wave Its possible that we will see a massive Wolfe wave push us up into a reversal pushed up further by a massive bull pennant forming Following Elliot wave theory the corrective wave is supposed to retract 50-62% which would put our estimated entry between $8400 - $9100 Feeling very bullish for the near future. I am just learning and sharing idea's hoping to learn more
COINBASE:BTCUSDLong
by KondrackiKarl