Could we be forming a BULL FLAG?
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Hey traders! First and foremost i want to thank everyone for all the support i have received on the last few charts published, you guys are awesome and
would love to get to know everyone more in my telegram so make sure to check that out as i actively provide technical analysis as well as trades and
many more things.
Let's dive into it!
So i was looking at a few charts i had published months ago and came across one titled "LONG this RETAIL FOMO has not even started yet!!!!" What i came
to realize was how i nearly predicted bitcoins move from 7k to 13k and then a retrace back down to 8500. It is one of my favorite charts i have done as it
is playing out PERFECT and to think i did this chart when we were testing the 7k region...... Make sure to check that chart out and tell me what you think!
BULL FLAG ON BITCOIN!?!
If we are forming a bull flag on Bitcoin we have Downtrend resistance line forming as the top of the Bull Flag around 12800 and from this resistance level
at 12800 expect to retrace back down and we very could even drop to the bottom of the channel at the 8500 level which would make perfect sense for the
retrace overall anyway on bitcoin. From 8500 bounce back up and this move up would be the move to either break us out of the channel or be rejected and
go back down to support. I am very interested to see how this plays out! As mentioned earlier if you want live market analysis in real time as well as my live
trades make sure to check out the telegram! Link can be found in the signature box at the bottom of this post!
Thanks, LiquidMEX
The bullish flag is most significant when it appears after a sharp advance in price.
A flag can form over one or more weeks. The most reliable flags typically form over 1-4 weeks.
Ideally, the lowest price point of the bullish flag does not drop below the breakout point. A drop and continuation below the breakout point could signal a change in trend.
Traders wait for a breakout from the flag to confirm that the preceding trend is still in play. It is best not to anticipate a breakout one way or the other. Some consider the flag area to be a “no trade zone”.
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
Hey traders! First and foremost i want to thank everyone for all the support i have received on the last few charts published, you guys are awesome and
would love to get to know everyone more in my telegram so make sure to check that out as i actively provide technical analysis as well as trades and
many more things.
Let's dive into it!
So i was looking at a few charts i had published months ago and came across one titled "LONG this RETAIL FOMO has not even started yet!!!!" What i came
to realize was how i nearly predicted bitcoins move from 7k to 13k and then a retrace back down to 8500. It is one of my favorite charts i have done as it
is playing out PERFECT and to think i did this chart when we were testing the 7k region...... Make sure to check that chart out and tell me what you think!
BULL FLAG ON BITCOIN!?!
If we are forming a bull flag on Bitcoin we have Downtrend resistance line forming as the top of the Bull Flag around 12800 and from this resistance level
at 12800 expect to retrace back down and we very could even drop to the bottom of the channel at the 8500 level which would make perfect sense for the
retrace overall anyway on bitcoin. From 8500 bounce back up and this move up would be the move to either break us out of the channel or be rejected and
go back down to support. I am very interested to see how this plays out! As mentioned earlier if you want live market analysis in real time as well as my live
trades make sure to check out the telegram! Link can be found in the signature box at the bottom of this post!
Thanks, LiquidMEX
The bullish flag is most significant when it appears after a sharp advance in price.
A flag can form over one or more weeks. The most reliable flags typically form over 1-4 weeks.
Ideally, the lowest price point of the bullish flag does not drop below the breakout point. A drop and continuation below the breakout point could signal a change in trend.
Traders wait for a breakout from the flag to confirm that the preceding trend is still in play. It is best not to anticipate a breakout one way or the other. Some consider the flag area to be a “no trade zone”.
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
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