after last week's bearish market, now we are currently on a little bit bullish market as the alts go green and king BTC is not performing any big moves in terms of price action. Now, after the double drop last Monday, at its first drop, it drops exactly at $6680 area where I plotted the 88.6% Fibonacci level then it accumulated upward a little bit then it formed a Bearish Pennant pattern then the pennant materializes then it drops again breaking the 88.6% Fibonacci level but it formed a Hidden Bullish Divergence then the divergence was given justice because the price accumulated upward and it formed a higher low when it dropped again exactly at 88.6% Fibonacci level and now it is forming a Bullish Pennant pattern and if it materializes we may see a rise up to its reasonable resistance at $6950 area. A bullish Pattern states that the length of the xy leg that is the price that it accumulated upward strongly is equal to the length of the breakout price accumulation of the bullish pennant pattern, and when I cloned the length of the xy leg then put it at the end of the bullish pennant pattern I draw it is exactly up to its resistance that I saw last time and its resistance now. I am quite amazed because it is really exact. Also the RSI from the drop up now is in uptrend, so it is really on a bullish movement right now and this may be a bullish market confirmation after it breaks out and we all hope it will, but for now let's see if the bullish pennant pattern materializes
An update for the #steemitpowerupph community. I am a proud new member!
