Pennants are the workhorses of the day trader. They perform an invaluable service by marking the midway point in a move. However, if a pennant is not accompanied by a flagpole, then it's not a pennant.
Also, performance depends on a strong price trend leading to the pennant.
Price trend Can be any direction leading to the chart pattern.Looks like a short symmetrical triangle(the flag), Prices move between two converging trendlines.
Pennants are short, 3 weeks long. The flagpole which leads to the pennant should be unusually steep and last several days.
The volume should always be a Downward trend 88% of the time and Breakout Upward 61% of the time.

A strong support line(blue) at 14180sats, price bouncing on that line and moving back up.

Technicals suggests that the pennant is almost completed and a test of the 0.5fib retracement level will likely take place before a major breakout. Only when price breaks out and closes outside the flag, that is the best time to buy.

BUY: 0.0015898sats
SELL: 0.0020893sats up to 0.0023821sats
STOP LOSS: 0.0013140sats


Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.



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