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A bull pennant is a continuation chart pattern used in technical analysis to help you spot a buying opportunity.
In this article, we’ll review the bull pennant pattern and what it looks like. Additionally, we'll compare it to other common chart patterns so you can be confident in spotting and eventually trading this price formation in cryptocurrency markets.
A bull pennant is a continuation pattern for buying opportunities in crypto. It appears after a consolidation that follows an upward trend.
The bullish pennant pattern is a favorite with traders, as it signals a strong uptrend.
Bull pennant patterns provide clear entry and exit points, along with favorable risk-to-reward ratios. However, they can morph into other patterns or even reversals.