So if you look at the chart and we copy that bull flag from july till sep, you will noticed the target was perfect at $69000.
So why not do the same (IF) this is a bear flag, the target will be around $9500.
The bullish targets are the break out from the triangle on the top.
the other bullish target is as high like last ATH
And last one is the target if and where it will touch the trendline.
The bearish targets are the break out from the triangle on the bottom
The other target is bear flag pole.
And another one is the 200EMA
Also you see the dashed line is a very strong trendline (actually neckline from H&S, see other ideas)
Other things what we can see is a big bullish divergence, but also we can see a bearish divergence.
IMO the break out from the triangle and the 50EMA was not convincing and created a doji after.
For the moment we're also back under the 50EMA (means bearish)
We have to see what will happen with the next weekly candle.
Also May will be a VERY,VERY important month for the stock market and crypto as well
So why not do the same (IF) this is a bear flag, the target will be around $9500.
The bullish targets are the break out from the triangle on the top.
the other bullish target is as high like last ATH
And last one is the target if and where it will touch the trendline.
The bearish targets are the break out from the triangle on the bottom
The other target is bear flag pole.
And another one is the 200EMA
Also you see the dashed line is a very strong trendline (actually neckline from H&S, see other ideas)
Other things what we can see is a big bullish divergence, but also we can see a bearish divergence.
IMO the break out from the triangle and the 50EMA was not convincing and created a doji after.
For the moment we're also back under the 50EMA (means bearish)
We have to see what will happen with the next weekly candle.
Also May will be a VERY,VERY important month for the stock market and crypto as well
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.