QNTUSDT is inside the pennant
QNTUSDT the current price action is showing signs of a potential bullish breakout. The price has broken out from the daily descending channel, indicating that the bears are losing control, and now, it's in an accumulation phase inside a pennant formation.
A pennant is a technical pattern that forms when there is a brief consolidation period after a strong price move, resulting in the price forming a small symmetrical triangle pattern. This pattern shows a temporary pause in the trend before a potential continuation in the direction of the prior move.
If there is a bullish breakout from the pennant formation, according to Plancton's rules, a long position may be possible. This is because the breakout from the pattern indicates that buyers have gained control, and there is potential for the price to continue moving higher.
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Follow the Shrimp 🦐
Keep in mind.
A pennant is a technical pattern that forms when there is a brief consolidation period after a strong price move, resulting in the price forming a small symmetrical triangle pattern. This pattern shows a temporary pause in the trend before a potential continuation in the direction of the prior move.
If there is a bullish breakout from the pennant formation, according to Plancton's rules, a long position may be possible. This is because the breakout from the pattern indicates that buyers have gained control, and there is potential for the price to continue moving higher.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
כתב ויתור
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