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Pennant

Bitcoin can correct to support line and then continue to growHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price started to grow inside the pennant near the support line and later reached the 93500 support level, which coincided with the support area. Soon, the price broke this level and continued to move up to the resistance level, which coincided with the seller zone and even entered to this area, after which it reached the resistance line of the pennant. Then BTC turned around and declined to support line and later exited from the pennant pattern, after which little fell and then rose to the 98500 level. BTC tried to break it, but failed and dropped to support level firstly and soon broke this level too and fell until to 90785 points. Then Bitcoin turned around and rose to the 93500 support level, broke it, and later rose to the resistance level. After this, the price turned around and made correction to support line of triangle, but a not long time ago it turned around and started to grow. So, in my opinion, the price can decline to the support line and then continue to grow to the resistance level. When the price reaches this level, it can break it, thereby exiting from the triangle also and then going next, making firstly retest or without it. For this case, I set two TP: first at the 98500 level, and second at 100500 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
Flare breaking up from falling wedge that is also a bullpennantThe shorter dotted purple line is the breakout target for just the falling wedge alone. The much longer dotted purple line is the measured move / breakout target line for the entire pennant. As we can see the price action has treated this longer dotted purple line as exact wick resistance here now as it begins its ascension to the breakout targets which helps tell us that this measured move line is indeed a very valid one. We can also see an impending golden cross just around the corner for flare as well at which point I expect it to get the same bullish impulse most of the alt market has been getting after their golden cross happens. If we hit the full breakout target of the entire pennant, that will take price action above a double bottom neckline as well which wll then lead to the opportunity for an even bigger breakout target. *not financial advice*
COINBASE:FLRUSD
by DrDovetail
2
4 potential top trendlines for monthly log chart xrp patternXrp has some sort of bull pennant that it has been forming since the 2018 top and there are at least 4 potential top trendlines for it which I have showcased here with different colors. The green top trendline would be if the most valid pennant is an ascending triangle, the light pink line is for a cup n handle pattern, the brown trendline is jut connecting the two red wicks, and the teal trendline is there because it was able to connect 4 key wicks. The purple trendline is the top trendline of a smaller triangle inside the pennant that has a breakout target of around $12 which means once it breaks out and its getting quite close to its apex, the momentum it brings on the way to its measured move target will take us well above the highest of all these potential top trendlines causing the chain reaction of the larger pennant validating its breakout as well. This is a monthly chart timeframe of course though…so even though the inside triangle with the purple top trendline is nearing its apex that breakout from that triangle could still be very possibly 1-3 more months away. I get the feeling around the time of the automated market maker amendment being implemented(march 22nd) we could see price finally leap up out of the triangle, if so I’m expecting a very bullish april for xrp The good news is the highest price for any of these potential top trendlines currently is around $1.56-1.58 or so and is not gonna be getting any higher so once we flip that price zone to solidified support then we can look forward to validating the breakout on the big pattern, and the fact that it’s a pennant means we will have 2 targets to look for in the long run: 1 for just the flag portion and then a much higher one based on the height of the pennant’s pole. I left the price target of the poles measured move target(in neon yellow) out of the frame of this chart idea but you may be able to drag that part of the chart down into the frame with your mouse or touchscreen if trading view still lets you. The reason I left it out of the frame is because I wanted to be zoomed in close enough to the flag portion of the bull pennant itself to be able to clearly see how the candles move in the coming months whenever I pull this chart back up and click the play button. *not financial advice*
CRYPTO:XRPUSD
by DrDovetail
1
XRPUSD log chart’s triangle pattern on the 1 month chart.Always a chance price action could break above this triangle at any given moment but we can see that the apex of this triangle goes all the way not 2026, so it could also just continue to grind slowly idle ways as well. Hopefully a final ruling in the SEC Ripple case occurs soon and isn’t followed up by any kind of appeal so price action can finally get moving. I am simply posting this chart here so i can keep tabs on this pattern as time progresses. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Hanmi Financial Corp | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Hanmi Financial Corp - Subdivision | Uptrend Bias At 0.382 - Entry Bias Hypothesis | 012345 & Invalid Target - Pennant Structure | Wave Template Infliction - Awaiting Target At 29.50 Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:HAFCLong
by TradePolitics
Bitcoin can little correct and then start to grow to 100KHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some days ago entered to upward channel, where it at once fell to the support line and then continued to grow. In a short time, BTC reached the 66800 support level, which coincided with the buyer zone and broke it, after which some time traded near and later rebounded to the resistance line of the channel. Then price made a correction to the support level and then made an impulse, exiting from the upward channel. Next, BTC continued to grow inside the upward pennant, where it rebounded from the support line and rose to the current support level, which coincided with the support area. Bitcoin some time traded inside the support area and later broke it, after which rose to the resistance line and then turned around. Price declined to support line of this pattern, which coincided with the 91500 current support level. But a not long time ago, it started to grow, so, now I think that BTC can little correct, to support level, and then start to grow to 100K. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
CHGP - Uptrend may EXTEND in near term ?CHGP - Current Price : RM2.27 CHGP is bullish as the price is above 50 & 200 days EMA . It is currently forming a Bullish Pennant Pattern. Chart Pattern traders may wait for a valid BREAKOUT this pattern to trigger a buy signal. Based on ICHIMOKU CHART, the stock made a breakout above CLOUD on 22 OCT 2024 which provides a buy signal. CHIKOU SPAN already moving above candlestick (which indicates a bullish scenario). At current moment, CHIKOU SPAN is inside the CLOUD and heading towards its resistance (LEADING SPAN 2 - the upper side of CLOUD). If the CHIKOU SPAN make a new high above the CLOUD, it will strengthen more the BULLISH outlook for this stock. As such, ICHIMOKU CHART traders may wait for the CHIKOU SPAN to break above the CLOUD to trigger a good buy signal. Notes : CHIN HIN GROUP BERHAD is the largest shareholder of CHGP. Approximately holding 54.94% stake.
MYX:CHGPLong
by IMRAN_96
EURO - Price can bounce up from support area to $1.0685 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago, the price started to decline inside a falling channel, and in a short time, it fell to the $1.0810 level. Then, the price entered the resistance area, after which it turned around and rose to the resistance line of the channel, making a first gap. After this, EUR made impulse down, breaking $1.0810 level, exited from channel, and continued to decline in pennant. In pennant, price fell below $1.0515 level, to support line of this pattern, after which made a second gap and returned back. Also recently, Euro broke $1.0515 level and exited from pennant and now trades close to this level. In my mind, price can fall to support area and then bounce up to $1.0685 points. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
SPDR S&P Retail ETF | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # SPDR S&P Retail ETF - Double Formation | 012345 & Triangle - Pennant Structure | Uptrend Continuation - Retracement | 0.382 Area(Retest) Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:XRTLong
by TradePolitics
HelenP. I Bitcoin will rebound up from trend line to $104KHi folks today I'm prepared for you Bitcoin analytics. A few moments ago, the price bounced from support 2, which coincided with the support zone and declined to the trend line. Then BTC turned around and bounced higher than support 2, breaking it, after which continued to move up inside the pennant. Inside this pattern, the price rose to support 1, which coincided with one more support zone, but at once rebounded and made a small correction. After this, the price some time trades below support 1 and later reached this level again and broke it. Then, BTC made a retest and after this, it rose to the resistance line of the pennant pattern, after which turned around and made a correction to the support line, which is the trend line as well. But a not long time ago, BTC turned around and continues to move up next, so, I expect that BTCUSDT will all to trend line and then rebound up to 104K points, thereby exiting from a pennant pattern. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
8
#2 Danger BTC is falling Bearish Outlook and Macro Perspective As in my previous remarks, I signaled an unstable #100k level, which has developed into a failure even to touch this mark. This reflects a loosening in bullish momentum, as many holders and investors are now taking profits. It's important to remember that there are also long-term holders (over 5 years) who experienced losses of up to #77% since November 2021. These holders might now be exiting their positions, adding selling pressure to the market. Moreover, with speculation surrounding Trump's actions post-20 January next year, it’s wise to approach the market cautiously and avoid wild bets. There are still lagging opportunities in other sectors. For example, Cardano (ADA) recently posted #38% gains in two weeks, highlighting alternative investments that are catching up to the current crypto bull run. Bitcoin Analysis: Bearish Outlook and Short-Term Targets Position Details: Current Sell Entry: #97k Target: #90k Market Structure Overview: The price action is respecting a rising wedge pattern, which is generally a bearish continuation pattern. The breakdown seen near the current price (~#94k) aligns with your bearish outlook. Bearish Confirmation: RSI: The RSI has fallen below neutral (currently #34.06), signaling weakening momentum. MACD: The MACD histogram shows growing bearish momentum (red bars) alongside a bearish crossover. Volume Flow Index (VFI): The VFI at #20 suggests moderate capital flow into the market, but not sufficient to sustain bullish trends. Short-Term Target: #90k The primary target remains #90k, supported by: The wedge breakdown projection aligning with this level. Historical support zones evident on the chart. December Scenario: Potential Retest or Breakout Heading into December, two possible scenarios are likely: Scenario A: Retest as a Double Top A rebound could take the price back to #97k or higher, potentially forming a double top. Rejection here would confirm continued bearish pressure. Scenario B: Breakout to #100k-#102k If bullish momentum unexpectedly revives, a breakout to #100k-#102k could occur. However, this would likely represent a false breakout, followed by a deeper decline. Technical Outlook: Key Resistance Levels: #96k (current zone of interest). #100k-#102k (psychological resistance and possible retest zone). Key Support Levels: #90k (primary target). #85k (potential deeper breakdown area). Conclusion: The current analysis reinforces a bearish short-term outlook, with a sell position targeting #90k. December may bring increased volatility with a possible retest at #97k or a breakout to #100k-#102k before the downward trend resumes. This cautious approach is underscored by macro factors such as profit-taking from long-term holders and alternative opportunities, like Cardano’s recent #38% gains, still lagging the broader crypto bull run. Stay vigilant with key levels and monitor confirmation signals from RSI and MACD.
BINANCE:BTCUSDShort
by Adoamigo
Lindblad Expeditions Holdings | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Lindblad Expeditions Holdings - Entry Bias Hypothesis | 012345 Wave Infliction - Triple formation | Uptrend & Subdivision - Pennant Structure | Wave 3 Continuation Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:LINDLong
by TradePolitics
Intl Favors & Fragrances | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Intl Favors & Fragrances - Pennant Structure & Subdivision - Double Formation | Center Trend Low - 1 & Support=0 | 12345 - Retracement | 50% | Long Set Up Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:IFFLong
by TradePolitics
S&P 500 Technical Analysis Ascending Triangle vs Rising Wedge I've identified two potential patterns on the S&P 500 SP:SPX chart: Ascending Triangle (blue trendlines): Higher lows and flat highs, with breakout potential above the flat top or a breakdown below the higher lows. Indicated by blue arrows. Rising Wedge Developing (red trend lines and arrows): Higher highs and higher lows, with a potential bearish breakout below the lower trend line or a less common bullish breakout above the upper trend line. Red arrows highlight the touch points on the rising wedge pattern. Pattern Rules: For a valid pattern, the following rules apply: Ascending Triangle: At least two higher lows Flat highs Decreasing volume Breakout above the flat top or breakdown below the higher lows Rising Wedge: At least three touch points on each trend line (I will use as few as 2) Higher highs and higher lows Decreasing volume Breakout below the lower trend line or above the upper trend line (less common) Quick Review for Beginners: New to chart patterns? Here's a quick rundown: Higher lows: A series of lows that are higher than the previous ones. Flat highs: A series of highs that are roughly the same level. Decreasing volume: The trading volume decreases as the pattern forms. Breakout: When the price moves above or below the pattern's boundary. Trend lines: Lines drawn to connect the highs or lows of a pattern. Keep in mind that chart patterns are not a guarantee of future price movements, but rather a tool to help identify potential trends and trading opportunities.
SP:SPXLong
by Paul_Hodls
Getting closer and closer to the bullflag targetsTwo of the biggest patterns bitcoin has broken upwards from this year are both bull flags and they both have a bullish confluence measured move breakout target of around $99,999. The first one that’s been forming the longest from we actually broke upwards from all the way back n February or March, and here is what it looks like: it was all the way back then I knew we would eventually reach this target and it’s extremely satisfying to click play and watch price action go directly to the target. You can see the price target for that one shown at the chart on the top of this page at the top of the dotted purple line. The other big bull flag of this year we only just recently broke upwards from in October, and it has also had beautiful priceaction unfold perfectly shown here: Clicking play on this chart also is amazing to watch it seemingly go up and hit the exact target with the dotted red line acting as a magnet. That same dotted red line can be seen on the chart image above on this current chart idea. Even though on both of those charts it looks like we have already hit the exact target, when you zoom n on the daily time frame here you can see that we came within a whisker of hitting the $99999 target but still have only gotten just below it. IN the process recently we have been consolidating in a rising wedge (as indicated by the diagonal pink trendline) and a rising channel (the ascending red trendline + the dotted red trendline). The rising wedge also can qualify as a bullish pennant and when you factor in the pink flagpole to where price has broken above the top trendline of the wedge, the measured move target for a breakout of such a pennant is around $116k. Rising wedges default mode is to break down instead of up, but in a parabolic bull phase many of them can consecutively break upwards, I do believe at the very least price action will finally reach both the dotted red and dotted purple targets. However, since that was the full target for two of the most pivotal bullish chart patterns of the year that may actually be a good time for it to make a solid correction. We also have the psychological resistance of 100k where many people would likely take profit at which could add to the liklihood of a correction in that range. Usually once price gets this close to a psychological level it tends to hit it so it would not surprise me at all if we hit 100k before the correction, there’s also a chance we could hit the little pennants 16k breakout target before the correction too but if we correct right after 100k, right after the 115-116k target zone, or just above that at the next big resistance area around 120-130k which is the top green trendline of this series of channels on the log chart: My belief is the correction will go down to fill the gap that was created in the CME bitcoin futures chart shown here: . I think it could likely retest that zone right around the 1day 50ma (in orange) rises up to meet that zone. My goal is to wait for a pullback back around there or back to the neckline (in yellow) of the big cup and handle we broke up from just recently, I will look for those levels as potential zones to make any additional entries into the market. The cup and handle has been by far the absolute biggest chart pattern of the entire year, however the channel of the red bullflag is also the handle of the cup and handle. Will be interesting to see how much of the above plays out how I anticipate it will. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
SPY Ascending Triangle pattern AND Rising WedgeAMEX:SPY Printing a nice ascending triangle pattern along a rising wedge. Could go either way as marked out but considering last weeks action the time for the rally of santa is here as we head into the day of the great Turkey. Some fat wall street bankers have to cover and generate returns they keep pushing people out of positions just to buy them up. Very likely we set a new ATH on SPY this week. We just as easily could reverse as rising wedges tend to be bearish signals.
AMEX:SPYLong
by Paul_Hodls