we may witness two scenarios after having identified pennant pattern in formation.
The first one is correction, it would happen if the price breaks the short-term trend line (red support line), in this instance the figure would have been invalidated and the first objective is 10,000 (approximately 20 days to reach that level) and the second objective of the correction would be 61% fibonacci level, around 8000.
The second scenario is continuation of trend trought the validation of the pattern, which will be fair if the price rises above 18,000, in this way, applying the theory of the pennant pattern, the flagpole is projected up to 30,000, however, with Higher level of security, the first target would be 25,000, suppor
The first one is correction, it would happen if the price breaks the short-term trend line (red support line), in this instance the figure would have been invalidated and the first objective is 10,000 (approximately 20 days to reach that level) and the second objective of the correction would be 61% fibonacci level, around 8000.
The second scenario is continuation of trend trought the validation of the pattern, which will be fair if the price rises above 18,000, in this way, applying the theory of the pennant pattern, the flagpole is projected up to 30,000, however, with Higher level of security, the first target would be 25,000, suppor