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Analyze Pennant Pattern Bitcoin Chart Setup

BTCUSD Trade Pennant Pattern Bitcoin Chart Setup

There are 2 different types of bitcoin pennant patterns - the bullish pennant chart pattern and the bearish pennant bitcoin pattern.

To trade these patterns, you need to learn how to study the bull pennant and bear pennant patterns for bitcoin.

How do you spot and interpret the pennant pattern in a Bitcoin chart?

A bull pennant pattern looks a bit like a rectangle that slopes slightly downwards. The rectangle is made up of two lines that run parallel to each other, acting as the lowest and highest prices for bitcoin until its price goes above that range. Usually, the bull pennant bitcoin pattern won't be perfectly level but will be leaning and have a small slope.

The bull pennant pattern for cryptocurrencies shows up when prices are generally going up. The bull pennant pattern for cryptocurrencies is a sign of ongoing price movement where the price of bitcoin goes back a bit: the bull pennant pattern is therefore a slight drop in bitcoin price with little bitcoin price change that has a small downward slope. A buy signal happens when the price of bitcoin goes past the upper edge of the bull pennant pattern. The pennant part of the bull pennant pattern has high and low bitcoin prices that can be linked by short lines that are parallel, making it look like a small channel, or pennant.

The bull pennant chart pattern occurs at half-way point of a bullish upwards bitcoin trend & after a bitcoin price break out a similar move equal to the height of the pennant pole is expected.

Pennant Pattern in BTCUSD - Bullish Flag Setup in Bitcoin Charts

How do I interpret a Bull Pennant Crypto Setup? - How to Read the Bull Pennant Pattern in Crypto Trading.

The bull pennant pattern above marked a brief pause. Bitcoin built strength to push higher. The breakout came when price crossed the upper line. Then Bitcoin kept climbing.

Bitcoin Trade Pennant Pattern BTCUSD Trade Setup

This bear pennant pattern is found in a downward trend. The bear pennant pattern is a bitcoin trend continuation pattern where the btcusd crypto price retrace slightly with a narrow btcusd price action that has got a slight upwards tilt. The sell cryptocurrency signal is generated when the btcusd crypto price penetrates the lower line of the inverted bear pennant pattern. Pennant portion of this bear pennant chart pattern has bitcoin price highs & bitcoin price lows which can be connected by small lines which are parallel, giving the bear pennant bitcoin pattern setup the look of a small channel - inverted pennant.

Bear Pennant Pattern – Breaking Down the Pennant Setup for Crypto Trades

How do I interpret a Bear Pennant Crypto Setup? - How to Analyze Pennant Pattern in Crypto Trading.

The bear pennant cryptocurrency pattern depicted above signified a phase of market consolidation within the broader bitcoin trend, preceding further downward movement and continuation of the bearish trend. This continuation signal from the bear pennant setup was officially validated once the lower boundary line of the bear pennant cryptocurrency formation was decisively breached to the downside, after which the bitcoin price commenced its decline.

How Do I Read Pennant Pattern Chart Setup

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