#BTC update:

This chart shows a 4-hour timeframe for BTC/USDT, and you’ve identified a bullish pennant pattern. Let me explain:
1.Bullish Pennant:
A bullish pennant typically forms during an uptrend. It consists of:
•Flagpole: The sharp upward movement (price surge) seen before the consolidation.
•Pennant: A triangular consolidation area where the price is moving within converging trendlines, as shown by the triangle you’ve drawn.
2.Breakout Potential:
The pattern suggests the price may continue upward once it breaks out of the pennant. Traders often look for confirmation with:
•A break above the upper trendline (resistance line).
•Increased trading volume during the breakout.
3.Key Support & Resistance Levels:
•Support: Around 102,730 USDT (horizontal line near the current price).
•Resistance: Around the triangle’s upper trendline.
4.RSI Analysis:
The RSI (Relative Strength Index) is showing a downward move from overbought levels. It’s currently near 50, indicating neutral momentum. This suggests the market is in a consolidation phase, aligning with the pennant.Steps:
•Bullish Breakout: If the price breaks above the pennant, the target could be equal to the height of the flagpole added to the breakout point. Based on this chart, the next target could push above 110,000 USDT.
•Bearish Breakdown: If the price falls below the pennant’s lower trendline, the pattern becomes invalid, and the price might retest the lower support zones

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