Weekends are usually when volumes go down, prices stagnate. What is going on?
Money never really sleeps. As it get's more exposure I think we'll see BTCD move from the shadows and bring with it new patterns of trading.
Here you go James
well the price has to decide whether to go up or down out of a flag pattern. When it is trending up, most likely to break to the upside. I guess market decided up was the right direction
So, most likely is some sort of consolidation, the key question is where?
Up.
The Pennant pattern is considered a "Continuation Pattern" in technical analysis. It's formed when there is a large movement in an investment "the flagpole", followed by a consolidation period with converging trendlines forming the Pennant pattern. This is then followed by a breakout USUALLY IN THE SAME DIRECTION as the initial large movement.
So, what have we just created here with the latest move?
Answer. We don't know yet. The pattern could break down. However if it consolidates from here over the next few weeks (usually 1 to 5 weeks), and forms another Pennant through price consolidation, that pattern would indicate another breakout to the upside. And since we all know BTCD is going TDM ...
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