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Bearish Flag

Bullish confliuence on the btc falling wedge & bear flag targetsWe can see here if price action can break above the top trendline of the chartreuse bearflag by next week and then hold that trendline as solidified support, thereby confirming the bullish breakout, that the measured move of the break out would be identical to the measured move of the bullish breakout of the monthly pink falling wedge pattern. This is very encouraging bullish confluence. The wedge being on the monthly time frame is more powerful than the bearflag which is on the weekly timeframe and the wedge has already confirmed a bullish break greatly increasing the likelihood that the bearflag which is a weekly timeframe pattern will also have a bullish breakout. To add to this the flag of the bear flag is a falling channel and those types of channels tend to break bullish far more often than they break bearishly. Bearflags usually only break up instead of down at the end of a downtrend or beginning of an uptrend as well, so if it does break up it is a very good sign that bullish momentum has control. One last thing that increases the probability of a break upward instead of downward is the measured move target for a break down from the bearflag is an impossible low negative number. All this combined I think we should see it break upward, but for the target to identically match the wedge target it is gonna need to break above the channel of the flag by the next 2 weekly candles. If this can happen then we are pretty much guaranteed the bottom is in. *not financial advice*
BINANCE:BTCUSDLong
by DrDovetail
It appears that the metaverse & gaming cryptos are waking up. Just as we are finally seeing mana pump and gala, we are now likewise seeing sand follow suit too as it seems to have finally broken up from the extended descending bear flag it was in for the longest time that I have posted charts about in the past. There are two possible measured move targets for the yellow channel its breaking up from. The dotted pink line represents th target if the slightly lower top trendline is the more valid top trendline of the channel, and the dotted yellow line represents the breakout target for if the highest of the potential top trendlines of the channel is the more valid one. Often times they both end up being validated. The dotted dark bluish purple trendline is the measured move for when sand breaks above the top horizontal bluish purple neckline which is the neckline of the double bottom pattern its currently printing on the chart. *not financial advice*
BINANCE:SANDUSD
by DrDovetail
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Bitcoin Bears Roar: Flagging Down to $52K? 🐻📉📉 Bitcoin Analysis: Rejection from Bear Flag Pattern on 4-Hour Chart 📊 Analysis: Bitcoin appears to be rejecting from a bear flag pattern on the 4-hour chart, indicating potential further downside. 💲 Current Price: Bitcoin is priced at $64,100, showing signs of downward pressure. 📉 Measured Move: The measured move of the bear flag pattern points to a target of $52,000, coinciding with a .382 Fibonacci retracement level. 🔍 Invalidation: Invalidation of the bearish scenario would occur if Bitcoin breaks decisively above the upper boundary of the bear flag pattern and establishes a new uptrend. 🛡️ Risk Management: Implementing risk management strategies such as stop-loss orders and position size management is crucial in volatile market conditions. 🔄 Stay Updated: Market conditions can change rapidly, so it's essential to stay updated on price movements and adjust strategies accordingly.
INDEX:BTCUSDShort
by Shibunacci
GBPUSD Update: Potential Bearish Flag Trading Setup IdentifiedTrade Setup: - Entry: Sell at retest of trendline - Target: Extended towards Bullish Butterfly Pattern completion zone - Trade Management: Utilizing upsize trade strategy Analysis: While many analysts see consolidation, I've identified a potential Bearish Flag trading setup on GBPUSD. The series of lower highs on the 4-hourly chart indicates a possible continuation of the bearish trend. I'm waiting for a retest on the trendline to execute a short position on GBPUSD. Using my trade management system, I plan to implement an upsize trade strategy to extend the target towards the completion zone of the Bullish Butterfly Pattern. Trade Management: - Upsize Trades: Leveraging trade management system for increased position size. - Entry: Selling at the retest of the trendline. - Targets: Extending targets towards the completion zone of the Bullish Butterfly Pattern. Risk Management: - Prioritize risk management to safeguard capital. - Adjust position sizes according to risk tolerance and trading strategy. Your Thoughts? Do you also see potential for a Bearish Flag setup on GBPUSD? Share your insights and trading strategies in the comments below! 👍 Like if you found this update helpful! Remember to conduct your own analysis before making any trading decisions. Trading involves risk.
Short
by RaynLim