Bitcoin (BTC/USD) 4H CHART - BULLISH PENNANT PATTERN Bitcoin / US DollarCOINBASE:BTCUSDPips_Hunter_Forex📊 Bitcoin (BTC/USD) 4-Hour Chart – Bullish Pennant Formation Bitcoin (BTC) forming a bullish pennant pattern on the 4-hour timeframe. A bullish pennant often appears after a strong upward move, followed by a period of consolidation, and usually signals a continuation to the upside. 🔍 Key Highlights: Pattern: Bullish Pennant – a continuation pattern that forms after a strong rally (flagpole), followed by a tightening price range. Resistance Trendline: The upper black line showing lower highs — where price has repeatedly faced selling pressure. Support Trendline: The lower black line showing higher lows — where buyers have been stepping in. Breakout Zone: Price is nearing the apex of the pennant. A breakout above the resistance line would likely confirm the bullish move. Target Projection: If the breakout is successful, the target is around $123,960, based on the height of the flagpole. Breakout and Retest: The chart also shows a possible retest of the trendline after breakout, which is common and can offer a second entry point for traders. Volume Watch: A valid breakout usually comes with increased volume. Monitoring this can help confirm the move. 📉 Downside Possibility: If the price fails to break out and falls below the support trendline, it could invalidate the pattern and lead to a bearish move — possibly retesting the $110,000 area. --- The market is at a decision point. If BTC breaks above the resistance and retests successfully, it could push toward $123K. However, traders should watch for both breakout confirmation and false moves.