The Full Monthly Chart Bullflag on BitcoinUsd Pair
Updated
Just as an addendum to my chart I just posted on the measured move target for just the channel portion of this bullflag, I wanted to include an updated visual for the full flag and its breakout target which is pretty much just ever so slightly below 100k. Will link the previous relevant chart ideas below. *not financial advice*
Note
1 last thing today about current price action. Although it does seem overwhelmingly most probable that we have indeed validated the breakout up from this bullflag, It’s still possible believe it or not for a black swan to retrace the entire size of the current monthly candle. I think its a very low probability for a reversal like that to occur, but it is wise to at least consider it should a black swan event occur and that way you are ready to make the most of the situation instead of feeling blindsided and panic selling like most would be if a scenario like that were to occur. For now though I’d say its at least 92% probability that we have validated the breakout here. Also quite possible to have a retracement that only goes all the way back down just to test the top trendline of the channel as support, but that too at this point is a very low probability. Still possible though so stay vigilant and make sure you are in a position to capitalize should it give us the opportunity to accumulate lower. *not financial advice*Note
I think that my officially be the biggest monthly candle close in bitcoin history. Pretty much 20 thousand dollars in one monthly candle.Note
Getting very close to reaching the first measured move target f the channel breakout on its own of 82k.Note
The thicker dotted measured move line for the entire flag is currently acting a support,maybe price will climb up it to the target like it usually does.Note
Price has flipped the bigger dotted measured move line to resistance but also has formed a clear bull pennant with a very tall pole. Whenever it breaks up from this pennant, the target is even higher than the other flag’s target of 99.6k.Note
1st target hit!
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