Looking at the OHLC Weekly bar chart for Bitcoin it seems that the price pattern has formed a pennant. 4 weeks ago there was a sharp price movement upward, the flagpole, and since then the price has traded sideways. What I mean by half-mast is when a pennant is formed, like a flag flying half-mast on a flagpole, it signals roughly a half way point in the direction the market is going. NOTE: On the breakout verify the breakout with the volume. Volume should be strong on breakout.

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#bitcoin #btc #pennant #flag #flagpole