$BTC

$BTC is making bullish pennant on hourly chart

Bullish Pennant Pattern – Analytical Overview

A Bullish Pennant is a powerful continuation pattern that typically forms after a strong upward price movement, known as the flagpole. It represents a period of consolidation before the trend resumes.

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🔍 Key Features:

Flagpole: Sharp and rapid price surge.

Pennant: Small symmetrical triangle sloping sideways.

Breakout Direction: Upward.

Volume: High during flagpole, low during consolidation, spikes again at breakout.

📈 Success Rate:

Historical Success Rate: ~65%–70%

(according to Bulkowski's pattern analysis and other market studies)

Best Performance: In high-volume, strong uptrend markets.

Measured Move Target: Equal to the height of the flagpole, projected from the breakout point.

__Why Traders Like It:

Clear entry and stop-loss levels.

Short consolidation = minimal time delay.

Works well with volume confirmation.

---⚠️ Caution:

False breakouts can occur.

Works best with other confirmations like RSI, MACD, or volume surge.