Are the Bears setting up another trap? Could they be getting ready to build another Bear Flag?
Ever since breaking out of the last Bear Flag, the one between the two red lines, I have had one thought stuck in my head after watching Bitcoin try to bounce off the 1D Order Block.
What if we are starting to build another Bear Flag?
I think it is definitely possible. We could even see a Wyckoff Model form as price works its way into the 1M Order Block. I am not sure whether it would be a Model 1 Wyckoff or a Model 2 Wyckoff, but either way, once you draw the trend lines, you will likely end up seeing the same thing, a Bear Flag pattern.
Take a look at the example I drew of a Model 1 Wyckoff leading into the 1M Order Block. Price may not follow this exact path, but the overall idea could still play out the same, a Bear Flag forming as price works its way into the 1M Order Block.
So is this the plan the Bears have been putting together to trap the Bulls before making another move lower?
Or will I be completely wrong? Maybe the Bears will make a move straight down to the Current Range Low before sweeping the 1D high again. Or maybe the Bulls will simply push right through, take out the Current Range High, and completely ruin this idea.
Only time will tell, but this is definitely a chart pattern worth keeping an eye on.
Ever since breaking out of the last Bear Flag, the one between the two red lines, I have had one thought stuck in my head after watching Bitcoin try to bounce off the 1D Order Block.
What if we are starting to build another Bear Flag?
I think it is definitely possible. We could even see a Wyckoff Model form as price works its way into the 1M Order Block. I am not sure whether it would be a Model 1 Wyckoff or a Model 2 Wyckoff, but either way, once you draw the trend lines, you will likely end up seeing the same thing, a Bear Flag pattern.
Take a look at the example I drew of a Model 1 Wyckoff leading into the 1M Order Block. Price may not follow this exact path, but the overall idea could still play out the same, a Bear Flag forming as price works its way into the 1M Order Block.
So is this the plan the Bears have been putting together to trap the Bulls before making another move lower?
Or will I be completely wrong? Maybe the Bears will make a move straight down to the Current Range Low before sweeping the 1D high again. Or maybe the Bulls will simply push right through, take out the Current Range High, and completely ruin this idea.
Only time will tell, but this is definitely a chart pattern worth keeping an eye on.
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน