Redrawn the canvas of the figure "Pennant" in the potential "Flag".
Nothing has changed with the previous trading idea. Both â€œFlagâ€ and â€œPennantâ€ have the same goal of working out a figure. All the same pivot points
Trading idea published 9 days ago. BTC Pennant is forming. Price is above the downtrend line.
If for example they decide to scare and break down a downtrend. They can make a false breakdown of the downtrend in order to throw off â€œweak handsâ€. The main thing is that there should be no price fixing below the downtrend.
The potential movement is 7.4%. That is with a high degree of probability the price will stop locally at the level of $ 7900-8000
Another variant. If from a downtrend (red zone), which acts as a support, the price moves up. The first target is the upper border of the â€œFlagâ€ canvas, which is the same + 7.4%. Further, if the price makes a breakthrough of the figureâ€™s canvas, then we will see confirmation of the â€œRising Flagâ€ figure.
1) $ 9300-9400
2) 9800 -10000 $
3) zone 12000 $
You must always work on the situation and earn when the price goes up / down. To have a more preferred option of movement, but if the price went against you to have a backup option, which would just as well earn. The most important is the entry point.
Watch the red zone that I have highlighted (downtrend line), from it a breakout / hold is everything and is solved locally.