Early Bull Flag breakout - A comfortable ride to 58k$Hey there crypto community,
Bitcoin has been riding a wonderful Bullish wave since that huge dump back in March and it doesn't end here. Some traders were calling 42k a blowoff top but that is not true as you can see in this chart.
Bitcoin saw a nice break out of this Bull Flag consolidation and looks set to ride that trajectory to the 58k target. The best assets to hold at the moment are Bitcoin and ETH as the trend has been confirmed on both.
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Bullflags
Possible bullflag on Corn cash. Se my related idea. We are in for a lot of volatility in the grain market.
$WKHS - Bullish Setup with Huge Accumulation VolumeWKHS is one of the most shorted stocks on the market right now, having rough 40% of it's float sold short.
Currently the technical chart looks amazing, with a bull flag being setup on top of huge accumulation volume. The dip was clearly bought, and now we've got a textbook bull flag with a huge gap left around $30 mark. If we breakout there's an extremely good chance we start running. We may may encounter resistance or bounce around 18.60, but above that it's clear skies until we fill the gap.
If we're lucky we may get a front row seat to a potential squeeze as well, due to the high short interest on the stock (not that it isn't justified). We've seen countless meme stocks and stocks with high short interest start running these past few weeks so I wouldn't be surprised to see WKHS follow suit once people catch wind of it.
All in all, we've got a relatively safe trade here. I'll likely enter a monthly position come Monday with a stop set around the 13.60 level. Happy trading!
$AMD bullish again? Here's the analysis.Hello everyone,
AMD has been an outperformer since it tested the 73 support multiple time earlier this year. It broke out of a 6 months long downtrend line in 2020 November and is currently backtesting it (thick yellow line). This may indicate the strong hyper momentum semiconductor stock is ready for another powerful rally.
Disclaimer: I personally hold AMD shares so this analysis is biased toward the bull side.
Pros:
- Downtrend line broken and currently holding the ratest
- Lightning bolts price action, a classic bull flag that points toward 89-91 areas.
- Tech and growth being in favor again with the easing of inflation fear.
- Trading lower than my valuation of 96 - 110, note that this valuation is subjective and priced in with a high PE ratio.
Cons:
- R/R ratio for the trade right now is not favorable to the bull until it clears 89 - 94 resistance
- Slight bearish divergence on the RSI
- Change in monetary policy could have a negative impact on tech stocks again.
- Market breadth across shows bearish signs as not most stocks are above 50EMA
Summary: Technicals of AMD are favoring the bulls and stock outperformance has not changed for the short term.
For holders: Monitor price action around 89 - 94 resistance, you should up your expectation with recent technicals
For non-holders: Buy around 81 - 83 as the previous resistance areas are likely becoming support.
Simply put, THETA will out perform BTC next few monthsClear massive bull flag breakout has occurred on the 6-hourly chart (and others). The flag goes back to about 4 months ago now. Very strong sign for THETA/ BTC pair for the next few months.
Closing a 6-hour candle strongly above 27,700 sats with high demand will certainly launch a large upthrust.
Green squiggle would be a super healthy bullish return to test ATH. But how we come up to test ATH could vary wildly. Regardless, we are likely to at least touch ATH once more soonish.
Wish bullflagWish is forming an classical bullflag. I would expect an breakout after reeaching the APEX.
Check chart above.
BTCUSD 1h. Bull Flag Pattern. Target 46KHi everyone,
Thank you for considering reading my idea.
Since our previous idea was invalidated, this may be a bull flag that's about to break in a few hours to the upside. The target of this pattern is at 46K.
Like this idea and follow me for more analysis like this. TAYOR.
Cheers,
Juvs
ADA/BTC Forming another bullish flag. Moving towards ATH.Cardano is moving towards new ATH considering the ADA/BTC chart.
Currently we ca see the formation of a second bullflag since the head and shoulders breakout.
We expect some more consolidation before an upwards breakout.
Smart contracts are around the corner and money is coming towards ADA.
With its proof of stake mechanism it also is energy efficient.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, white and pink lines are 200MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
SHAK -on firmer ground to recoveryAfter hitting a low of 78 in a few weeks ago, SHAK finally gapped up on strong volume on 25 May, suggesting that the downward pressure might be over. Over the last 2 weeks it began to form a bull flag cummulating to a strong break out of this bull flag yesterday. These adds credibility that the trend has now reversed to the upside.
I am expecting a near term target of at least 104-105 (gap fill and a previous support turned resistence). Should it be able to clear this level, then 115 becomes a possibility. Trail your stops upwards accordingly.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
DOTUSD 4h. Bull Flag Pattern. Target 33.Hi everyone,
Thank you for considering reading my idea.
Here we have a bull flag that just broke to the upside with a target of 33. We also need to break first the SuperTrend resistance. As we can see from the MACD and RSI, there's still a lot of room to the upside. MACD recently triggered a reversal signal.
Like this idea and follow me for more analysis like this. TAYOR.
Cheers,
Juvs
My prediction of the Gold movement until the end of 2022Depending on the 200d MA, and considering the long Bull flag, and on the other hand, looking at the economic outlook and the state of inflation and US interest rates and Possible weakness of the dollar index, we can consider the main movement of gold as an uptrend until almost the end of 2022, or even a few months earlier, Gold could be traded in the range of nearly $ 3,000 .
Perhaps if it were not the current interest and transfer of a huge amount of capital to the cryptocurrency market, we could be seeing much higher rates of gold now.
What do you think about this scenario? shall we got ready for this?