$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.