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.
–––––
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.
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