BTCUSD 45m – Pennant Breakout Setup Toward 100k Target1. Pattern Formation: Bullish Pennant
The chart shows a pennant, formed after a sharp downward move followed by price compression.
The upper trendline is descending, the lower trendline ascending, converging into a tightening triangle.
This is typically a continuation pattern, but because the preceding move was downward, traders will often wait for confirmation from the breakout direction.
2. Breakout Attempt
The price is breaking slightly above the upper trendline, marked as ENTRY.
This suggests a potential bullish breakout, but:
The breakout candle is still small.
Ideally, you’d want volume confirmation (not shown in the image).
3. Stop-Loss Placement
The STOP LOSS is placed safely under:
The lower pennant trendline
Recent consolidation lows
This gives a logical invalidation level—if price drops below this, the breakout has failed.
4. Target Projection
The target of $100,006 is consistent with a measured move calculation:
Height of the initial impulse (the pole)
Added to the breakout point
On your chart, the projected move equals about +10%, also labeled on the right.
5. Risk–Reward
The setup shows good R:R, since:
Stop-loss is close
Target is distant
However, pennants can generate fakeouts, so caution is warranted.
6. Market Context (from the chart only)
Current price around $95,984.
The overall trend in the 45-minute view appears mixed:
Strong drop earlier
Stabilization
Compression
The breakout direction will determine the next phase.
