Bullish Bitcoin Flag Pattern
Using the classic flag pattern, I have identified a bullish trend on BTCUSD.
I used a Phi-Channel to model the current uptrend and we can see that its lines have significant confluence to the area on the chart where the breakout would be expected to happen.
At every location that matters, there is some kind of important inflection point, such as a Fibonacci co-efficient or an order block/FVG.
I don't know how high BTC will go, but with uncertainty in the air...I am bullish on crypto.
I used a Phi-Channel to model the current uptrend and we can see that its lines have significant confluence to the area on the chart where the breakout would be expected to happen.
At every location that matters, there is some kind of important inflection point, such as a Fibonacci co-efficient or an order block/FVG.
I don't know how high BTC will go, but with uncertainty in the air...I am bullish on crypto.
Note
I also wanted to note the confluence of NVDA stock with BTC prices. This makes sense as NVDA GPUs are highly important to mining and other blockchain activities that I don't really know a lot about personally. I just know NVDA products are vital to crypto. I own an nvidia GPU and have owned several.
They released the RTX3000 series a few years ago, right around the time this stock really started pumping. They have released the 4000 series since, and those have been out now for about 2 years and prices still have barely come down on any of them anywhere. Seemingly infinite demand.
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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.