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Bullflags

🔥 Bitcoin Bull Flag Break Out: Bullish Weekend AheadYesterday I made an analysis on Bitcoin. Here I argued that Bitcoin was facing resistance at the $48.5k resistance, which caused the bullish move to stop and BTC reversed back to the break out zone. This break out zone was the main indication for me whether we'd go up or down in the short term. As seen on the chart, the $47k support offered enough support for the price to reverse sharply and even break through the $48.5k resistance. This is very good news. My target for the weekend is $50k. Happy trading!
Long
by FieryTrading
15
Higher Breakout FET/BTC #FET #FetchAI $FETHere we see our FET daily chart from Bitfinex and you can clearly see this pullback is a Bullflag ! Shown in-between those black lines . The purple lines show the length of the flagpole on our last rise up that took us to 2500 area . That flagpole was at least 1200 sats high and when we break out of this Bullflag we will be going up by at least that much upwards . So if we break out near 2200 sats, give or take - we should then be targeting 3200 to 3400 area , and possibly higher ( I won't be surprised if we wick to 3700 area . ) But 3200 is a strong weekly resistance , and 3400 is the .236 fib of our full fibs on the Binance chart so I expect to hit resistance there . At any rate this looks great and will continue to do well the rest of 2021 , at least .
Long
by shimmeringpath
SPX 1-day classic patternsQ: What has the highest probability of occurring? Solid uptrend. There are 2 classic patterns 1 is approaching its target the other has not validated. The bull flag from July is approaching its target. The pattern projects 4570 as the target. The ending diagonal, that appears to be in a throwover, is not validated. This pattern projects 4140 as the target. Objectively looking at previous structure there are a two major bearish classic patterns that failed. Specifically double tops that breakout into an uptrend as the second top is about to form. Buying the retest of the double top or former resistance was a great strategy. Bull flags also proved successful, in hindsight of course. Since the bull flag from July is the only validated pattern the current position is long with a bias in favour of the uptrend continuing. N.B. the current daily ranges are in the lower half of the distribution of all ranges this year. This indicates low volatility by 2021's standards. When the rate of change crosses from -ve to +ve it acts as a good entry signal for this trend. The market gains momentum after the majority of crosses. Low volatility and momentum are prerequisites for steady trends but are not predictors of direction. Finally the ending diagonal is for those with skepticism. If something untoward were to happen there is a framework for trading a 10% correction. In the words of Ed Seykota, "The trend is your friend except at the end where it bends."
OANDA:SPX500USDLong
by xciiitradingco
BTC Ultimate FLAG/TRIANGLE!Money Makers! BTC has had a very strong rejection and is now looking to aim lower to find the next MAJOR support before continuing higher. On the weekly TF shown I've mapped where I think BTC should retest in the upcoming weeks. At this support is where I would consider going LONG. There is another support on the way down, which is around 40k. Let's keep our eyes on these areas and see how the market reacts. Love it or hate it, hit that thumbs up and share your thoughts! Don't trade with what you're not willing to lose. Safe Trading Calculate Your Risk/Reward & Collect! This is not financial advice. Simplicity Wins
BITFINEX:BTCUSDShort
by rnaofs
ETHEREUM BEARISH RSI DIVERGENCEHello everyone On Ethereum we got what it seemed to be an ascending triangle which is a bullish pattern. The upper line indicates the resistance line. We could calculate the target by measuring the width of the base of the triangle and placing it at the break out point. We broke and the price surpassed the target by a little bit. Currenty it seems like we are forming a bull flag on the daily time frame which is a also a bullish pattern. But from the other hand we are forming a bearish RSI divergence. So i would be cautious trading the bull flag. Always use a stop loss! Thanks *Nothing of the above is financial advice*
by Harryboz
1