Bitcoin Pennant Chart Pattern

Let's look at the 4 chart, we can see a pennant pattern. If the price breaks the resistance line of this pattern, we'll get a signal confirming further upward movement. The pennant will be realized as a continuation chart pattern and we we should expect for price movement to the target zone between 6700.00-6900.00 levels. Pending orders for buy can be placed at 5750.00 level. Stop orders must be placed below the pennant pattern at 5400.00 level. The main profit target is 6500.00 level. This trade looks rather risky, because MACD lines and ADX line climbed too high, and we can face with a short term retracement. If you don't want to take part in such risky trades, you should skip this signal or open long trades with less volume . Alternative variant: if the price breaks support line of pennant and drops below 5500.00 support level , we should expect for further downward movement to the support zone . It will give us a new trading opportunity.
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In my opinion and experience, the SL (5400) was pretty high and triggered too early.
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@DLavrov thank you for your insights. I look forward to reading your analysis being new to the game. #followingyou
Hello sir, could you take a look at my last two analysis as I'm back in the market after a little pause and wonder what you think - I started doing Ichimoku as I've experienced is faster and more precise than any of the other TA I've been using. Of course combined with other indicators but so far its quite spot on and easy to understand price action.

Its here: (this was a spot on trade setup and worked out great)

And here: (let's see how it goes)

I started using Bitmex due to the high level of leverage which I wanted to experiment with (its dangerous!!)

Thanks for all your feedback and help in the past - a true community leader!
Stop loss just now from your telegram sígnals :(
@jlmora, it's a part of trading like profit trades.
jlmora DLavrov
@DLavrov, i know but in that moment i feel :((( Sorry, thanks for you work.
TereMius jlmora
@jlmora, He did say it was pretty risky.
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