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Bullflags

Does technical analysis still work on Bitcoin?🔸 I'm continuing my experiment. That time I'll try to figure out which tools of classical technical analysis are still working on Bitcoin. 🔸 In my last idea, I considered trendlines from which price periodically deviates to take liquidity: 📈 This time, my attention was drawn to the downward channel on BTC, which perfectly fits "bullish flag" pattern - continuation trend figure. ⚡️ According to the rules, after consolidation in the channel, price must break through the upper border of the flag and cover distance equal to the price movement before forming the pattern. ☝🏻 I don't use this pattern in my trading strategy. Just analyzing statistics of successful ones.
BYBIT:BTCUSD.PLong
by killzonemaster
3
Weekly BTC/USD sell-offs topping off at the 10K - 11K region.After consolidating in a symetirical triangle (begining week of 24 Jun '19 to the break down week of 23 Sep '19) and falling -30% during a 4 week period, there were 3 more dumps. 21 Oct '19 thru 18 Nov '19 (-34%) 10 Feb '20 thru 09 Mar '20 (-62%) 01 Jun '20 thru 29 Jun '20 (-15%). (The -62% drop IMO would have been closer to a -30% drop if Covid-19 were not a factor). This leads me to believe the trend of sell-off's has smaller percentages of downside action. Price action alone looks to be bulllish, with the majority of closes above the $9K in the past 50 days. This sideways consolidation in price is what bulls are looking for. Of course we would like to buy some BTC around 7K or 6K but the bears are loosing steam. Buyers will step in during Q3. Bitcoin has closed above the 21/50/100 week SMA since 27 Apr '20. However the 21 SMA is below the 50 currently. A break of the 50 sends BTC/USD to $8.5 area. Bad news could drive a wick down to $5.3K. I look for strong support at $6.3K on the monthly. The EMA Ribbon is slightly bullish, the MAC D looks bullish, the RSI is neutral at 55.00 and the Stock RSI is gaining momentum to the down side. A -25% drop in the comming weeks? an inverted head and sholders could start to take form. BTC daily volume has been consoludating in the 15B - 25B range for weeks, and has recently dropped to 12B witch is the lowest daily Volume since 13 Oct '19. (Volume in this market is too hard to gauage) But I know full well that when BTC is trading with low volume..... BOOM! big up or big down. There's a potential Bull flag on the monthly. If it plays out a quick test of the $13.5K region is very likely. Down the line when the stock markets finally crash new $ will enter the crypto space. There are too many projects showing success with real use cases and partnerships. Countries, banks and large business are just now realizing the benefits of blockchain.
BITSTAMP:BTCUSDLong
by JasJas
Bitcoin in a Bull flag!Hey, I am back with another Crypto idea, looking at Bitcoin. So Bitcoin has been going sideways for the past week, in a slight uptrend. Currently is Bitcoin in a bull flag, from where it looks like it's breaking out now by breaking the bull flag downtrend line. The target of this one hour bull flag is $9,400, rest of the cryptomarket should be bullish too, as Bitcoin looks bullish. Make sure follow me, in order to not miss out on my trading ideas. Each Like is very much appreciated! 🙌 If you have any questions, feel free to ask via dm or down in comments.
BITSTAMP:BTCUSDLong
by TiborVrbovsky
1
DE Bull Flag Breakout NYSE:DE is a ticker I have kept my eye on for a little now. It fell into sideways movement after maintaining a strong bullish trend. It formed a bull flag and broke out of the upper bound at the close of the 6.25 session. This is a strong breakout signal supported by a MACD crossover underneath the zero line. This, along with analyst price target upgrade to 165, involvement in agriculture sector that reaps benefit from the recent China Phase 2 deal, and potential 2 trillion dollar infrastructure aid, makes me believe that we may enter a strong bullish trend from this breakout. Keep your eyes peeled
NYSE:DELong
by BullsEyeView
2