Bitcoin Bull Flag
Just a simple analysis today, for a bigger picture look at my previous two ideas.
Bitcoin broke out of a descending broadening wedge and is now forming a bull flag.
You can enter now, or layer in, or wait to see if it breaks the top of the flag (36800-37000) for an entry.
If you’re a break out trader then make sure it breaks out of the flag WITH VOLUME, and retests the top of the flag and flips it from resistance to support. Be a sophisticated trader .
As you can see , I’ve pulled up the VPVR and it shows huge trading volume at the 36150 level, which is why we are holding this area and may not see a retest of the bottom of the flag.
Technical price target of the bull flag break out , with volume confirmation, should be around $42500. I think just a stop on the move up to the higher price targets mentioned in my previous , other picture post. But...
Take profits early
Never leverage more than %5 of your portfolio.
Stay safe out there.
If it closes below the lower neck of the flag, walk away from the trade.
Bitcoin broke out of a descending broadening wedge and is now forming a bull flag.
You can enter now, or layer in, or wait to see if it breaks the top of the flag (36800-37000) for an entry.
If you’re a break out trader then make sure it breaks out of the flag WITH VOLUME, and retests the top of the flag and flips it from resistance to support. Be a sophisticated trader .
As you can see , I’ve pulled up the VPVR and it shows huge trading volume at the 36150 level, which is why we are holding this area and may not see a retest of the bottom of the flag.
Technical price target of the bull flag break out , with volume confirmation, should be around $42500. I think just a stop on the move up to the higher price targets mentioned in my previous , other picture post. But...
Take profits early
Never leverage more than %5 of your portfolio.
Stay safe out there.
If it closes below the lower neck of the flag, walk away from the trade.
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