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Bullish Pennant

BTC Bullish PennantBtc appears to be forming a bullish pennant on the daily. Pennants are usually continuation patterns & very rarely produce a trend reversal. The move before the pennant formation is in an uptrend, so btc is likely to continue its move upwards if it breaks up above when we reach the apex of the triangle (we're nearly there/possibly already there). Another key point is the volume. Volume should dry up during the formation of a pennant, which is what has been happening thus far. This adds further confirmation that this is very likely a bullish pennant. However a close below $9,300 at this point would invalidate this idea.
BITSTAMP:BTCUSDLong
by kelvinn90
6
The 1 day bullpennant has once again become the dominant patternWe can see now after a very weak "breakout" from the 4hr chart falling wedge that it is the 1 day chart bull pennant that is still very much the dominant chart pattern at the moment. The good news about that is the breakout target should be much much higher than the falling wedge's target would have been. The bad news is the pennant is a descending triangle which has a slight chance of being a reversal pattern. We can also see the 4hr 50 and 200mas are at risk of deathcrossing in the near future if we don't see a bullish breakout from the pennant in the next few days. This is a 1 day chart but I placed the trajectory of those 2 4hr MAs on here with a dotted orange and dotted blue line so you could still see it on the 1 day chart. My bias is still leaning bullish here but because of the potential impending deathcross I'm gonna leave this idea neutral. Hopefully the pennant will break up before wednesday and we won't have t worry about a deathcross on the 4hr.
COINBASE:BTCUSD
by DrDovetail
1day symmetrical bull pennant? Or possibly an invered h&s.green horizontal still maintaining great support. the 1 day 50ma(in orange) continues to grow more and more parallel with the ascending red neckline double reinforcing boths levels of support: price action could continue to grind slowly up the red ascending line and form an symmetrical bull pennant it should ultimately pick a direction by the time it reaches the green descending top trendline of the larger 3 day symmetrical triangle though. Still a chance for it to be an inv h&s pattern here as well...2 different inv h&s are currently in play(shown here in yellow and pink). It's possible for the current pattern to be a combo of both a bull pennant and an inv h&s or 1 or the other.
COINBASE:BTCUSD
by DrDovetail
BTC 10K resistance turns into support. Btc bullishTethers flowing, BTC sentiment has never been this low (Extreme fear) and thats a good thing. Always move against the herd. the herd is not bullish, the herd is not greedy, the heard fears bitcoin. just look at the sentiment chart here: alternative.me , even in crash from 20000$ in February the sentiment was not this low. so shaky hands have been shooked. the rest are longterm investors. daily traders have shit their pants on these levels. so called experts are not reporting any trade. that's good. just look at the google trends, the masses have not even been hyped about 2019 price move. trends.google.com search terms are on low levels, and this is important since bitcoin is fully on web, web trends are saying a lot of information to us. they say this price move is not a hype its actually a gradual and healthy growth.
BITSTAMP:BTCUSDLong
by UnknownUnicorn1928174
Is Bitcoin going to break this Bull Flag / Descending Triangle??It appears as though Bitcoin Is getting ready to go parabolic over the weekend & touch the top of this Descending Triangle, or potentially try to break this Bull Flag & put in a higher low. Only problem I have, the volume etc are declining, so I'm not overly bullish. It's hard to look for bullish patterns in a short term bear trend that potentially started roughly late June this year, egh. Time will tell per usual.
BITFINEX:BTCUSDLong
by ScotianBot
2
Gold’s bullrun continuesGold’s bullish climbing against USD goes on as US and China’s economic tension continues. When we check the 2 hour chart, 1488 support worked well and pushed the price to 1533 resistance. Let’s wait and see if this resistance can handle with the strong move or would price be able to break resistance and go into 1523-1553 channel. As in my opinion even if 1523 resistance will work and push the price down, it will be broken in next try. Moving average and Parabolic SAR seems that the movement is strong. But at the same time Bollinger bands widened that may be showing the value may continue horizontal for some time and than try to break the resistance again. RSI’s support baseline worked also very well. XAU/USD weekly XAU/USD daily, perfectly worked bullish pennant formation
OANDA:XAUUSDLong
by Emrut
1
$BTC in Bullish Pennant: Target $14.5k and beyond in August 2019Hi everyone, Welcome to another update on Bitcoin! Check out that long term 2019 trend line. We think it will hold as very strong support for this ABC correction, which is nearing its end. Bitcoin is coiling in a Bullish pennant for more than a month now, with some over-extended price action. So how is this bullish pennant (green triangle on chart) formed? The support (lower side of the triangle) is the long term 2019 trend line (yellow). The right side of the triangle is the neckline of the infamous inverse head and shoulders in July. The left side is the upwards rise connecting the above 2 sides. That's your bullish pennant! Expecting breakout of pennant anytime in the coming 2-3 weeks as the price action coils towards the tip of the triangle, and as the C wave finishes correcting probably down to $8.8k levels (which happens to have a nice fibonacci confluence with the retracement from Jan 2019). In Summary: we're expecting $8.8k soon, then a continuation of the rally to $14.5k targets (and beyond) in August 2019. P.S. It's not worth taking the risk to wait to $8.8k levels to buy the dip - doing so now is more guaranteed. In fact, there is a possibility that the C wave is already in, and Bitcoin is en route to 5-digits with no turning back to 4-digits again! Cheers, Leb Crypto
BITMEX:XBTLong
by Leb_Crypto
bull pattern inside bull pattern inside bull pattern.this bullflag inside an inverse head and shoulders inside a bullish ascending triangle should provide a triple threat of bullish momentum that finally breaks us above the strong resistance at 8504 and allows us to achieve the elusive higher high on the weekly chart. We must always be ready for a potential fakeout of course but odds and probability strongly favor a successful bullish breakout. Targets for both the bull flag and inv h&s patterns are 8887 and the ascending triangle can take us into the 9.6k-9.9k region i've been predicting we'd reach been for awhile now before the correction its target is shown in the 9.7k range. Of course there is also a possibility that the ascending triangle is not just a triangle but an even bigger bullish pennant n which case we could break above 10k and even test 11k before the first significant correction. For now however that one is not quite as probable but we will have to see how things react once we reach the next major resistance just below 10k (assuming we break through 8504 resistance which probability highly favors)
BITSTAMP:BTCUSDLong
by DrDovetail
BTC-USD(T) : Bullish pattern?It seems that a bullish pattern appears actually in the market: A bullish flag, or to be more accurate, a bullish pennant . The only argument I have now against this idea, is that actually the market seems "frozen" with a reduced volume, compared to previous days. If BTC breaks up, it is important to see what happens next: will BTC brake also the very recent HIGH of 8350 USD? If so, then the market will warm up and we will head for 10k USD, or even 14k USD. * If you win good money with my help and wish to offer me a beer, you can donate me some (fractions of) BTC. BTC: 1BoZCLAoS26wAQPd75WixojoupW1mB4e3b
Long
by NickTsili
Possible ascending triangle bull pennant has a target of 10778btcusd has been consolidating inside an ascending triangle on the 4hr chart for a bit now and will likely continue at least one more leg up before the anticipated first real correction of this current bull run. On the 1 day chart shown here we are seeing that the triangle may not just be a triangle alone but also possibly a bullish pennant. If the bullish pennant is validated the breakout target is around 10,778 dollars. If only the ascending triangle itself is validated the target will be under 10k. You'll notice a few ideas back from this one I posted how I anticipate that much like the beginning of the last bull market and much like litecoin's price most recently displayed that odds are very good that we will see a 78.5% increase in bitcoins price from the point of its golden cross which when I did the math was in the 9.6k range. For that reason I have been saying that I don't think we will see a significant correction until we reach the 9.6-9.9k range. We have a very very significant horizontal resistance line here just under 10k at 9.9k and it could very easily be the rejection zone where our first significant correction begins. Of course if this bull pennant is validated, fomo can potentially take us as high as 11k before the rejection. Were the 9.9k zone to maintain strong resistance and instigate the correction however we would have essentially finished forming the body of a huge cup and handle and will have started forming its handle which when broken could send us skyrocketing. there may also be potential of forming a cup at the 11k range too though so I will have to take a look at that and get back to you on it. Lastly, even though this ascending triangle pattern has yet to have broken yet we just broke above an inverted head and shoulders pattern on the 4hr chart which has a breakout target that will send us right back up to the current strong horizontal resistance at $8504 and up out of the ascending triangle which should trigger the additional momentum we need to overcome the horizontal resistance line. There is a slight risk of a triple top a 8503 so keep an eye on that which if it were to form then our correction could come then but probability much more highly favors we break above it and head to at least 9.6k
BITSTAMP:BTCUSDLong
by DrDovetail