BTCUSD Pennant Structure | Waiting For FMFR Setup

The market is currently trapped inside a pennant structure, creating a compressed price range where both sides are active.

My main expectation here is an FMFR setup — First Move Fake Than Reversal. In this type of structure, the first breakout move is often a fake move before the market reverses strongly in the opposite direction.

Because of that, I am not measuring the full move yet. First, I want to see which side the market chooses for the initial fake breakout. Once that fake move appears, I can then calculate the expected reversal move based on the first expansion of the pennant structure.

For now, price is still moving inside the structure without a confirmed breakout.

Inside the pennant, I identified an important reversal area where supply has reacted twice already, creating a 2x supply reaction zone. Along with that, I also marked a reversal zone where I want to see any strong positive candle or bullish confirmation.

If buyers react positively from this area, the market could deliver a short-term upside move while still remaining inside the overall structure.

At the moment, the focus remains on how price reacts around the reversal zone before the market reveals its true direction.