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What is Bull Pennant Bitcoin Chart Pattern?

Trading Identify a Bull Pennant Setup in Bitcoin Trading

The Best Patterns Tutorial Guide for New Traders - How to Identify and Trade Bull Pennant Bitcoin Chart Pattern

Bitcoin Chart Pattern Setups for Day Trading - BTCUSD Crypto Currency Patterns Explained

This Bull Pennant patterns charts tutorial explains how to identify cryptocurrency setups - spotting cryptocurrency patterns is the first step when it comes to learning how to bitcoin trade with Bull Pennant setups in Bitcoin.

Bull Pennant bitcoin price patterns commonly form on Bitcoin charts and this pattern analysis tutorial explains how to trade & analyze crypto charts using Bull Pennant chart patterns.

Bull Pennant Bitcoin Chart Pattern

This Bull Pennant cryptocurrency setup forms what looks like a rectangle. Rectangle is formed by 2 parallel lines that act as support & resistance for the bitcoin price until the bitcoin trading price breaks out. In general, the Bull Pennant pattern won't be perfectly flat but it will be sloping.

The Bull Pennant setup is found within a Bitcoin upwards trend. In this Bull Pennant cryptocurrency setup is a continuation pattern where the btcusd market pulls back slightly, it is hence a slight retracement with narrow bitcoin price action which has a slight downward tilt. The technical buy point is when bitcoin price penetrates the upper line of the Bull Pennant cryptocurrency pattern. The flag portion has highs & lows which can be joined by small lines which are parallel, giving it what resembles a small channel.

The Bull Pennant cryptocurrency setup occurs at halfway point of a bullish upward bitcoin trend & after a break-out a similar move equivalent to the height of the flagpole is expected.

What's Bull Pennant Bitcoin Chart Pattern? - How to Identify a Bull Pennant Pattern in BTCUSD - BTCUSD Bull Pennant Pattern

What's Bull Pennant Crypto Chart Pattern in Crypto Trading?

The Bull Pennant cryptocurrency pattern above was just a resting period as the btcusd trading market gathered strength to break-out & move higher. The Bull Pennant chart pattern bitcoin continuation signal was confirmed as upper line was broken to the upside.

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