again, idk wtf i'm doing and this is definitely not financial advice.
rather, i'm publishing something in hopes someone with more charting experience can take it and run with it and/or tell me why i'm wrong.
also, idk wtf i'm talking about
luuuv. . . <3 !!!
So the pennant formation you drew (the top "resistance" trend and bottom "support" trend) need to be touching a recent high and low. It doesn't mean that they aren't valid, as they haven't been tested in a while. So the recent top "resistance" trend does touch three spots which is valid, but untested in two months. The bottom "support" trend you drew that forms the pennant formation was broken and therefore invalid. Sometimes a price line can briefly break a trend line or the line can be crossed and have pullback before the candlestick can close and the trend can still continue or it is further validated.
-The support trend from 10/17 on is valid, but would be considered a long term support. The more touches to a trend line the more solid it is confirmed. So good job!
-The first resistance trend you drew from 1/18 thru 2/18 is in theory correct. Once the trend breaks its a key indication that the market is changing, thus one of the reasons the value shot up.
Suggestions, trends are just one of many indicators that help give you clues as to why things go one way or another. Check out RSI, or relative strength index, MACD lines, and moving averages. GDAX, an exchange uses a 12 period and 26 period exponential moving average, or EMA. A large amount of the market uses this exchange and those EMAs. I'll post a picture for you to see so you can see the correlation with how the market is moving around them. Also, check out The Chart Guys on youtube and on here. They have a ton of knowledge to help you out.
Hope this helps and good luck!