You are viewing a single comment's thread from:
RE: Market Update: STEEM (STEEM/BTC) - Are Steemians gonna be rich?
I don't see a pennant. Maybe a descending wedge. That's also a bullish formation. At least we can agree on the resistance line. If it can get through that then there should be some good price action. Fundamentals are now also in support of a rally IMHO.
That line that makes it look like a pennant is from the longer term downtrend (price history not in the picture).
It's showing that price recently broke that downtrend and also is holding above it turning resistance into support (hopefully you can kinda see what i mean)