Current $BTC pennant -> Passed the 75% point
Tells me that the (down)trend is weak and sellers are exhausting.pic.twitter.com/WBIfQv4qBr
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Couldn't you make the same argument for the other side, i.e., the inability to break up means the uptrend is weak and buy pressure is exhausting.
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Yes but at the end of a trend, weakness signals a reversal, not strength.
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I think he’s saying this set up should break down, and the fact that it hasn’t already 75% through is implying not enough selling pressure. Am I picking up what you’re throwing down RJ?
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Precisely, ezzy
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How I interpret this is that when a continuation pattern such as a pennant does not resolve in the given time, it gives information about the strength of the trend (weakening). In this case, it's a bearpennant as continuation pattern in a downtrend that is taking too long.pic.twitter.com/2RMxrHyfOn
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Gotcha, mind linking the resource of that second image on your post.
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It’s almost 50/50
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Flip a coin for fuq sake
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I'm fucking exhausted!
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