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Pennant

BITCOIN - Price can leave pennant and continue to move upHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price declined to support line, thereby breaking support level with support area inside falling channel. After this, BTC bounced from support line and made strong upward impulse to current support level, which coincide with support area. As well, price left a falling channel too, and after impulse Bitcoin some time traded near $29850 level. Also later, price reached resistance line, thereby forming pennant pattern, and fell to support level, where it continues to trade to this day. In my mind, Bitcoin can break resistance line and rise a little, after which make retest to support level. And then, I think that price can continue to grow to $31100 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
13
Bitcoin - Huge pump is ready! + Bullish pennant Bitcoin is forming this bullish pennant on the daily chart. The price has been inside this pattern for a month, and it's time for a massive breakout! The next stop is around 34k because of the 0.618 FIB extension from Wave (1) to Wave (2) and we can hit this target next week. After it, a pullback is likely, but continuation of the uptrend to 39k is in place as per my previous analysis. Then I expect a crash to 21k! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Bitcoin has been consolidating for 1 month with a complex Elliott Wave correction wave (WXY) - Triple three. Before this correction, there is a strong impulse wave (12345). Now we should see a 3rd impulse wave followed by a triangle (ABCDE) or a ZigZag (ABC) and a final diagonal wedge pattern. Usually, when one of the corrective waves of a major impulse wave is complex, the second one should be a triangle or a zigzag pattern. XRP is pumping, and I hope you bought some cheap coins as I recommended! 1.3 is a strong resistance for XRP, so check out my previous idea in the related section down below. Also watch SPX and NDQ, if it his a new all time high, a major crash could happen also on BTC! Bitcoin is unfortunately pretty weak compared to other assets this year. I feel an alt season in the air, at least for a couple of weeks. I already have full bags of altcoins, so I don't know about you, but I am prepared! Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
152
Investment Pick of the week!After consolidating for year and half BEML has finally given breakout. This chart came on my attention in Sept 22, however, the SL is hit. Now again it is showing the strength to trade under blue sky. This is a very good opportunity for an INVESTOR. BEML is Government's one of the largest Heavy machinery unit. Target mentioned here are medium term targets. Long term targets are extremally aggressive. Long term investor can also keep deep SL than 1500 on weekly closing basis. CMP - 1682 (21/7/23) T - 2100, 2800 W SL - 1500 W
NSE:BEMLLong
by AbNamjoshi
ATC.CA: Bullish Pennant, Not Confirmed (28.89%)(6/1000)(6/1000) Bullish Pennant pattern for ATH on the Canadian market. Not confirmed yet. Pros: 1- PPS above 50MA and 200MA 2- RS above 0, but just a little 3- R/R ratio above 5 4- 250RSI above 50 but flat 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- Descending volume during flag forming 9- Volume during post forming 10- ATR ascending, more volatility Cons: 1- Flag not confirmed yet 2- No break out yet Target price is 4,33$ Stay humble, have fun, make money! MAAX
TSX:ATHLong
by LeLaf
1
UBER Bullish Pennants for ContinuationUBER on the 15-minute chart this week has printed a small bullish pennant pattern then continued into another larger print of the same pattern. The Price Volume Trend Oscillator went red to green as the initiation of this trend over the past two days. Trading volumes have pushed prices and are in the range of double the moving average. The zero-lag MACD indicator shows a pattern of bullish momentum in the mornings followed by fades at lunch and afternoons. I believe that this 5-6% trend up has another 1-2 days to go before a profit-taking session to close out the trading week.
NYSE:UBERLong
by AwesomeAvani
Binance Coin can grow to resistance line and try to break itHello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that price bounced from the resistance level, which is located in the seller zone, and fell firstly to the support level, but soon Binance Coin declined lower to the buyer zone. A few time later price declined more to the support line, but at once rolled up and rose to the resistance level, where it at once too bounced back to the support line. After these movements, BNB made a strong upward impulse higher of the seller zone to the resistance line, thereby forming an upward pennant pattern. Then the price fell to the support line, which coincide with the support level, and a not long time ago bounced up and rose to the resistance line. At the moment Binance Coin trades near the support line and probably it can decline to the support line, and then bounce up to the resistance line. Also, I think, the price can break this line and make a retest, after which BNB can continue to move up, Therefore I set up my target at the 250 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
BITCOIN - Price can bounce up, thereby leaving pennantHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few days ago price declined below of resistance level, but at once bounced up and made a fake breakout. After this movement, Bitcoin fell to support level, which coincided with support area and also entered to rising channel. In channel price reached resistance level again, and even rose higher to resistance line, but soon made downward impulse to support line. Thereby price formed pennant pattern, in which Bitcoin continues to trade to this day. In my mind, price can decline to support line and then rise to $30500 level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
14
After strong impulse up, Euro can decline to support levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some time ago bounced from the support level, which coincides with the support area, and started to decline inside the downward channel. Inside channel price declined until to support line, and also broke the last support level. After Euro reached the support line, it bounced up to the resistance line, exiting from the channel and backing up higher of support level. As well, the price formed an upward pennant pattern, in which Euro declined to the support level, which coincide with the support line, and then made a strong impulse up to the support area with the level. Thereby price left the pennant and in a short time broke the current support level and continue to rise. At the moment, I think Euro can fall to 1.1090 support level, where is located my target. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
26
BTC more likely to rise after bear trap * 4H BTC was dumped due to FUD last week. But this was a bear trap and a long squeeze. If you look at the linear chart, it's supported by an uptrend line starting at 24.8k, and it's rolled up quickly with triangular convergence. It's slowly going up, supporting the bottom of the triangular convergence and the uptrend line. On this basis, it seems more likely to rise. BTC is currently staying in the 29.5k to 31.5k box range with Triangle Convergence, but after a little more sideways, I think it will show direction sooner or later.
Long
by untoldanalysis
DON'T MISS this BTC, another rideIf you're new here check out my previous set ups on BTC and make sure you don't miss this So we have a bullish pennant that is currently been retested, however i expect that BTC will test the liquidity point at 30k/ 30100 before we can fly and create a new year high. Even though there is a strong probability that it will range from 31400 to 29700, doesn't mean we can't scalp or long for a potential break. so i will be buying at 30100/ 30090 stop loss of 29500 See you at 36k
BINANCE:BTCUSDLong
by DN_Trades
12
CRM breaking out of pennant, or wave C correction?Salesforce ( NYSE:CRM ) is making an impressive pre-market move, poised to kick off the day with a breakout from its pennant formation. By taking into account a measured move from the previous consolidation phase, coupled with a measured move from the onset of the formation, we can project a potential target range of $233-238. Interestingly, this aligns with the consensus 12-month price targets. We're looking for this to invalidate the possibility that we've just wrapped up a wave B and are now embarking on a wave C correction. If the breakout fails and we enter a wave C hypothesis the long-term target remains intact. Consequently, I've planned two a entry approach: an immediate entry and a subsequent one at the $200 mark for further accumulation. It's worth noting that both these levels have strong volume support. This dual-entry strategy provides a balanced approach to potential market volatility, ensuring we're prepared for either outcome.
NYSE:CRM
by Ben_1148x2
BITCOIN - Price can leave pennant and fall to $29700Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A not long time ago price made correction below $30350 level, which coincide with resistance area, but soon backed up. Next, BTC rose to $31110 point and then bounced down to support line, which is located below $30350 level. Then price backed up again to resistance level and then started to rise inside rising channel, after which BTC declined to resistance area. But at once price made upward impulse to resistance line, forming pennant pattern, and then started to fall to support line. Recently price tried to back up, but failed and now trades near support line and I think Bitcoin can rise to resistance line. Then price can bounce down, thereby exiting from pennant and continue to fall to $29700 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
18