BTCUSDT H1 : BULLISH PENNANT BRAKOUT IN BTCUSDT
BTCUSDT H1 : BULLISH PENNANT BRAKOUT IN BTCUSDT
The chart for BITCOIN appears to be forming a bullish pennant pattern,
which is a continuation pattern that typically forms after an uptrend.
The pennant is formed by two converging trendlines, with the price of BTC moving between the trendlines. A breakout from the pennant could signal a continuation of the uptrend.
Current Price: 69,988.99 USDT
Target: 72,216.11 USDT (based on the height of the pennant)
Stop-Loss: 68,750.00 USDT (below the bottom trendline of the pennant)
Additional notes:
The pennant formation is a bullish continuation pattern, but it is not guaranteed that the price will break out in the direction of the uptrend.
The RSI indicator is currently at 50, which suggests that BTC is neither overbought nor oversold.
This is just an idea and you should always do your own research before making any investment decisions.
The chart for BITCOIN appears to be forming a bullish pennant pattern,
which is a continuation pattern that typically forms after an uptrend.
The pennant is formed by two converging trendlines, with the price of BTC moving between the trendlines. A breakout from the pennant could signal a continuation of the uptrend.
Current Price: 69,988.99 USDT
Target: 72,216.11 USDT (based on the height of the pennant)
Stop-Loss: 68,750.00 USDT (below the bottom trendline of the pennant)
Additional notes:
The pennant formation is a bullish continuation pattern, but it is not guaranteed that the price will break out in the direction of the uptrend.
The RSI indicator is currently at 50, which suggests that BTC is neither overbought nor oversold.
This is just an idea and you should always do your own research before making any investment decisions.