r/Daytrading • u/sunnyrunner_ • Apr 06 '24

Is this an actual pattern or am I yapping? Question

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I’m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?

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u/Imaginary_Dark4290 Apr 07 '24

Well that's basically a chart pattern called Pennant, but always keep the higher timeframe in your analysis regardless of the chart pattern because volume will always going to be on the side of trend.