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Daily Feed: 5th April 2021- Pennant - BITCOIN - PatternSurfer

Daily Feed: 5th April 2021- Pennant – BITCOIN

Jump to: Pattern Result

Date and Arrival Time: 2021-04-05 01:05

Symbol Name:  BITCOIN

Pattern and Direction:  Bearish Pennant

Pattern Completion Price: 57761.61, Pattern Ideal Completion Price: 58148.91

A Bearish Pennant Break has arrived at 01:05 UTC.

There is a potential Sell opportunity at 57761.61. A safe stop-loss for this Pennant can be kept at 58424.00 as per the pattern or 1% above the completion depending on the trader’s risk tolerance. PatternSurfer always advocates tight stop-losses to maintain the best risk-reward ratios .

UPDATE: 5th April – Success

Take a look at the results of this pattern below, where the pattern has almost achieved the first take-profit level, but soon reversed from the predicted level, indicating the trend may no longer be bearish.