Clear Bull Flag Pattern on Bitcoin, the Bull Flag hits its target around 70-80% of the time and is one of the most reliable patterns to trade in parabolic bull markets.
Often the best entry point on a Bull Flag pattern is when the price "fakes out" underneath the flag support before the real breakout occurs.
22300-22500 we need to hold as support for it to continue up in the short term which is the flag support also, as long as we dont lose that area we have a probability of continuing up.
If we can see a breakout of resistance at 23900 the next target area is 25400-26900.
Often the best entry point on a Bull Flag pattern is when the price "fakes out" underneath the flag support before the real breakout occurs.
22300-22500 we need to hold as support for it to continue up in the short term which is the flag support also, as long as we dont lose that area we have a probability of continuing up.
If we can see a breakout of resistance at 23900 the next target area is 25400-26900.
Note
Bitcoin has still not invalidated the Bull Flag pattern, also considering large companies continue to buy BTC more upside is likely.22500-22300 crucial support to hold for this flag setup to keep moving.
Note
Another chart for reference, we are currently under a small resistance area so need to "confirm support" above 23700 for more upside. Be cautious until that happens.Note
Current chart, Bull Flag still valid. Note
Idea is playing out well!
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.