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Bullish Pennant

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
XLMBTC Bullish Pennant - 69% ProfitHey Guys: BINANCE:XLMBTC is our next coin of discussion. Take note of the similarity between our approach to this coin and how we are trading BINANCE:POEBTC . I've provided a link to that trade, which is still active. It looks as though BINANCE:XLMBTC is forming a bullish pennant . Should the pennant break, we could see profits of up to 69%. Using the height of Pole A, we can estimate the peak of the second rise; should there be one. The estimated peak from Pole B just happens to also stop at the peak of our Fib Extension. Entry Point Look for the price to break the pennant . Although, if the price reaches the end of the pennant , then we are looking at an entry point below the 0.236 Fib level. Look for an entry between the 0.236 and 0.382 Fib levels. Target Points: (1) 0.00006004 (2) 0.00006707 (3) 0.00007708 (4) 0.00008983 Stop Loss: We're going to wait until this trade develops some more before determining a stop-loss. Indicators: Moving Averages Although the 50-period MA (Blue) has just recently formed, if we try and envision the right side of the chart, we see the potential for it to continue it's current trend. Likewise, we would want the 20-period EMA (Orange) to stay above the blue line. Sniper T3-CCI We are now waiting for one or two more candles to appear above the line. Just as we did with POE, it may be smart to wait for the price to break both the pennant and the 0.236 Fib level so that we can confirm an uptrend. Good Luck! -Matt
Long
by TroutHouse
MANABTC Bullish Pennant - 75% ProfitHey Guys: BINANCE:MANABTC is our next coin of discussion. It looks as though BINANCE:MANABTC is forming a bullish pennant . Should the pennant break, we could see profits of up to 75%. Using the height of Pole A, we can estimate the peak of the second rise; should there be one. The estimated peak from Pole B just happens to also stop at the peak of our Fib Extension. Entry Point: Look for the price to break the pennant. After breaking from it, I'd wait until the price cleanly breaks through the next Fibonacci level. i,e., If the price stays within the pennant over the next month and breaks on March 16th, I'd wait until the price rose above the 0.382 Fibonacci level. Target Points: (1) 0.00001720 (2) 0.00001935 (3) 0.00002242 (4) 0.00002632 Stop-Loss: Again, we will wait until we enter e position before gauging an appropriate stop-loss. Indicators: *I didn't include the normal MAs because of the initial listing of BINANCE:MANABTC . Those prices mess with the calculations of the MAs and are not reliable. So, we'll use them at a later time. Sniper T3-CCI We are going to keep an eye on this as time unfolds. Should the price fall below the 0.236 Fibonacci level, we should expect this to follow and confirm a downtrend. Candlesticks: The two candles above the red arrows raises some questions: The first one shows large wicks and very little body. This indicates that there was a big battle between buyers and sellers. Although the sellers won, the result wasn't dominant. The second, today, shows a hammer. Now, the hammer is still bearish; which doesn't necessarily support our claim that a rise is eminent. Ideally, we want to see the bulls takeover as the rest of the day unfolds and turn that sucker into a green hammer. Summary We'll be keeping an eye on this coin over the next few weeks. I'm going to wait for the confirmation of an uptrend before entering a position. Good Luck! -Matt
Long
by TroutHouse
1
POEBTC Bullish Flag – 23% Profit2hr Chart It looks as though BINANCE:POEBTC is forming a bullish pennant. Should the pennant break, we could see profits of up to 23%. Using the height of Pole A, we can estimate the peak of the second rise; should there be one. The estimated peak from Pole B just happens to also stop at the peak of our Fib Extension. Entry Point Look for the price to break the pennant. Although, if the price reaches the end of the pennant, then we are looking at an entry point below the 0.236 Fib level. Look for an entry between the 0.236 and 0.382 Fib levels. Target Points: (1) 0.00000818 (2) 0.00000845 (3) 0.00000873 (4) 0.00000911 (5) 0.00000960 Stop Loss: 0.00000729 Indicators: Moving Averages Our 20-period EMA crossed the 200-period MA roughly 12 hrs ago; indicating a bullish trend. (Green Arrow) Look for the 50-period MA to cross the 200-period (Golden Cross). Sniper T3-CCI We have received a buy signal as the second green bar closed above the line. But, we're going to wait for the pennant to play out before entering a position. Good Luck! -Matt
PLong
by TroutHouse
1