🔥CHART PATTERN DETECTED, What's NEXT?? 🤔
🤯LETS FIND OUT & POSITION OURSELVES.. 👇
$SPACE USDT is currently forming a clear pennant
chart pattern on the 1H timeframe, and this structure
is starting to look very interesting for a potential
bullish breakout.
After the strong impulsive move earlier,
price has been consolidating inside tightening
trendlines, creating that classic squeeze
between higher lows and lower highs.
This kind of compression usually signals that
a bigger move is building, and the market is
preparing for expansion.
What makes this setup more attractive is the way
price is respecting the lower ascending trendline
while slowly pushing toward the upper resistance
of the pennant. Buyers are stepping in on dips,
and the structure shows that selling pressure
is weakening. Volume has cooled off during
consolidation, which is typical behavior before
a breakout. If momentum comes back in with
a strong candle close above the upper boundary,
we could see a sharp continuation to the upside.
The moving averages are also starting to align
with price holding above short term support.
This suggests that bulls are trying to regain control.
As long as price continues to print higher lows
inside this tightening range, the bullish bias
remains intact. A confirmed breakout with strong
volume would open the door for a continuation
toward the next resistance zones.
For a bullish trade setup, the safer approach
would be to wait for a clean breakout and candle
close above the pennant resistance.
Entry on breakout confirmation reduces the
risk of fake moves. Targets can be projected
using the previous impulse leg before
consolidation, as pennants often lead
to continuation moves equal to the size of the
prior breakout. Risk management remains key,
so placing a stop below the recent higher low
or below the pennant support would
help protect capital.
$SPACE 👨🚀
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