During the last weeks Bitcoin formed a big pennant from the beginning of June until now.
After two weeks of large movement (20 may until 3 Juni) followed by a consolidation period of four months we note converging trend lines. The pennant that's formed is often followed by a breakout movement in the same direction as the initial large movement. It's the second half of the flagpole. If BTC breaks the red dotted line we are much more closer to breaking big red recistance line @ around 620.
Hope this helped you further!
Have a great day :)
After two weeks of large movement (20 may until 3 Juni) followed by a consolidation period of four months we note converging trend lines. The pennant that's formed is often followed by a breakout movement in the same direction as the initial large movement. It's the second half of the flagpole. If BTC breaks the red dotted line we are much more closer to breaking big red recistance line @ around 620.
Hope this helped you further!
Have a great day :)
