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STEEMBTC

With some little bear in the market, some coins are still keeping up or almost completing their bullish move.

BULLISH PENNANT FLAG PATTERN

The bullish pennant pattern is the opposite of the bearish pennant pattern and almost similar to a bullish flag pattern, with the exception that the pennant is formed by converging trend lines forming a symmetrical triangle.

As price consolidates inside the flag waiting for completion which will likely drop to around the 0.5fib retracement level or mostly likely the 0.382fib level. The oscilator also speaks more as it is fully oversold and needs to cross the 20 for confirmation.

TECHNICALS suggests that a movement along the 0.618fib and the 0.5 fib level will likely hold the price. Two targets (the blue and the yellow lines) if flag is broken, Percentage meeting price target for up breakouts: 64%.

 

Disclaimer: The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL