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Bullflags

Will BTC reach 30K+ or it will dump? BTCUSDT updateHi dear community my loyal followers, I hope you are fine. Let me update BTC current situation and my expectation. This week BTC pumped from 19.5K and broke not only 24K but also 25.2K and reached 27.8K. If you remember I warned you about BTC recent dump from 25K to 19K+-. At the moment, you can see on the chart that BTC has created Bullish megaphone chart pattern/Inverted symmetrical triangle/ and tested its upper line where there is significant, one of the strongest resistance/.. There are BB, FVG zone, 0.38 fib level, 21 monthly EMA, diagonal resistance+ horizontal resistance/ etc. Look at bellow attached charts also to understand what I mean. I expect BTC to break 1h bull flag reaching 28.6K/attached bellow/ , which will be fake breakout of bullish megaphone chart pattern / a lot people will open long positions, at the same time BTC sweeps liquidity above 27.8K then we' will see strong rejection and correction starts. When BTC reaches 28.6K , BTCD will be at 48-48.5K at main resistance/attached bellow/, where it will drop and during this BTC correction , we'll see mini altseason. Pay attention that volume is decreasing while price is rising/bearish divergence/ also there is bearish divergence at daily OBV which doesn't support this pump)). I expect BTC to drop 22.6-22.8K where there is OB+FVG + 0.618 Fib zone, if BTC can't hold the mentioned zone it will dump to 20.5K. During this drop price will react at 25.2K small bounce, then drops to 0.5fib level/23.6K/ again bounce/this level could hold as well/ and drops to 22.6-22.8K taking out IDM/sweep liquidity/ Also keep your eyes at 23.6K 0.5 fib level, which is mid range of megaphone chart pattern. there is chance it can hold as well, but more likely 22.6-22.8K will be reached. After the mentioned scenario we'll see new highs, at the moment I can't tell you 22.6-22.8K will hold or not, we'll see BTC reaction at that point. Please don't forget to like, follow and share my ideas. I will appreciate any kinds of support.
BITSTAMP:BTCUSDShort
by ergal91
4
ZECUSDT is creating a bullflagZECUSDT had a breakout after an accumulation period, but was subsequently rejected by the daily resistance level. The rejection from the resistance level may be indicative of strong selling pressure or a lack of demand for the cryptocurrency at current prices. However, the price of ZECUSDT is currently creating a bull flag pattern. A bull flag is a technical chart pattern that occurs when the price of an asset experiences a sharp upward movement, followed by a period of consolidation with a slight downward trend. This pattern often signals that the price is poised for another upward movement, and may indicate strong demand for the asset. In order for the price of ZECUSDT to continue its upward trend, it will need to create a breakout from the bull flag pattern as well as the daily resistance level. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
10
LRCUSDT is testing the resistance inside the BullflagThe LRCUSDT pair recently experienced an impressive bounce from the daily demand zone at the 0.2$ level. The price is now creating a bull flag, which is a technical chart pattern that is typically seen as a bullish signal in the market. A bull flag is characterized by a period of consolidation or a slight pullback after a strong uptrend, forming a flag-like shape on the price chart. Traders and investors who follow technical analysis may look for a potential breakout above the daily resistance at the 0.42$ area, which could signal a continuation of the uptrend and potentially offer new buying opportunities. According to Plancton's rules, a successful breakout from the bull flag could be a suitable time to consider opening a new long position in the LRCUSDT market. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
2
BTCUSDT - Bullish Bias Based on FibsBullish bias to the upside based on Fibs. 1st Impulse Fib retracement from Impulse low to high gave a breakout from 0.382. With a Fib extension 1:1 upside target of 24.1K. 2nd and current impulse Fib retracement from Impulse low to high giving a current possible breakout from 0.382. With a Fib extension 1:1 upside target of 28K. Also worth noting is swing low fib from 1st breakout to last pivot high gives us a bullish fib of 0.618, current price. Speculative and should be used with unbiased trade with risk management as always. Loosing 0.382 at 21.6K may be a signal for more downside to come.
by hmaroudas
21
AXSUSDT is inside a bullflagAXSUSDT is inside the bull flag A bullflag is a chart pattern that occurs in an upward trending market and is characterized by a period of consolidation or retracement within a parallel channel, creating a flag-like shape. The pattern is considered bullish as it often precedes a continuation of the uptrend. In this case, AXSUSDT is testing the 0.618 Fibonacci level inside a bullflag formation. The price has increased 63% since the previous idea after a clear breakout from a descending channel. Additionally, the price created an engulfing pattern on the daily support at the 10$ area, which could be a bullish signal, so According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
KCSUSDT wants the Key level!KCSUSDT has recently seen an increase in price, as it has grabbed liquidity from the $6 area and is now creating higher highs and higher lows. The price has also recently broken out from a bull flag, as previously mentioned. What is the Bullflag? A bull flag is a chart pattern that is formed after a strong bullish move and is characterized by a period of consolidation or correction, where the price moves sideways within a defined channel. The channel is usually inclined downwards, and the price action forms a flag-like shape. The pattern is typically considered bullish, as it suggests a continuation of the prior bullish trend. Bull flags often occur during periods of low volatility, and a break above the upper trendline of the flag is considered a bullish signal, indicating that the price will likely continue to rise. The next step for KCSUSDT is to create an impulse with high volume until reaching the key level of $8.6. We are waiting for the conditions or criteria to be met before taking any action on the KCSUSDT. These rules or criteria, also known as a Plancton's Strategy, so According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
8
KCSUSDT is testing the resistance!KCSUSDT has recently experienced an impressive breakout from a bull flag pattern. The price is currently testing a key resistance level after retesting the 0.618 Fibonacci level. The market appears ready for a potential breakout. A bull flag pattern is a technical analysis chart pattern that is characterized by a strong upward price movement, followed by a period of consolidation or sideways movement, in the form of a flag or a pennant. The pattern forms as the price of an asset makes a sharp upward move, creating a flagpole, and then enters into a period of consolidation with lower volatility and a tighter trading range, forming the flag or pennant. The bull flag pattern is considered a continuation pattern, as it suggests that the underlying bullish trend will likely continue once the period of consolidation is over and the price breaks out of the flag or pennant formation.
by InkyGrip
14
🚩 Bull Flags VS Bear Flags🚩What is a Flag Pattern? A flag pattern is a commonly observed technical analysis pattern used to identify potential continuation of current market trends. It is characterized by a period of consolidation, where the market experiences a relatively small range of movement, following a significant price movement. This pattern is formed as the market returns to a state of equilibrium, following a large move. The flag pattern is considered a continuation pattern, as it often indicates that the market will continue to move in the same direction as the preceding trend, once the flag breaks out. This breakout typically occurs when the price of the security breaches the upper or lower boundary of the flag, and it is usually accompanied by an increase in trading volume. 📈📉The difference between a Bull flag VS Bear flag The difference between a bullish and a bearish flag is in the direction of the price movement. With the bullish flag, the idea is to participate in a strong uptrend. Meanwhile, with the bearish flag pattern, the idea is to trade short in the direction of the prevailing downtrend. - Downtrend vs uptrend: Bull flag and bear flag are both continuation patterns that form when the price of a stock or asset pulls back from the predominant trend in a parallel channel. - Bull flag: A bull flag is a sharp, strong volume rally of an asset or stock that portrays a positive development. - Bear flag: A bear flag is a sharp volume decline on a negative development. - Bull flag and bear flag share the same traits: Traits of Flag Patterns include support and resistant levels, flag, flag pole, breakout points and price projections. 📍Entry opportunities The most important component of any flag pattern trade is the entry. It’s generally advisable to wait for a candle to close beyond the breakout point before creating any orders to avoid being burned by a false signal. In the example above, the entries are made on a High risk - High reward mindset with stop loss bellow the flag pattern. Most traders will enter a flag pattern trade on the day after the price has broken beyond the trend line. The length of the flag pole is typically used to calculate the profit target. Even when the formation of a flag pattern is obvious, there is no guarantee that the price will move in the expected direction. As with most technical analysis, you will get the best results from flag patterns by applying them to longer-term charts as you will have more time to consider your strategy and analyze the price action. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
3
Who is going to win this one bears or bulls?What we are looking at here is the SPY on the Daily TF (on the Left) and the 10 Min TF (on the Right). Notice that the blue arrows show that we are in a mature bear flag and it is about ready to trigger more downside action. And, you will see that the chart on the Right with the green arrows is a nice mature bull flag. How high do you think the SPY will go before ultimately flushing to the yellow target support line? Let me know in the comments. Cheers.
AMEX:SPYShort
by GarethSolowayOfficial
11
EURAUD Trade!Hello traders around the world! My name is Alexandre Karim & today I will be sharing with you my trade on EURAUD. If we go back to the daily chart, we can draw an expanding descending channel from October 2020 till present. Currently the price formed a bull flag on the upper daily TL (We can see it on the 4H & 1H TL) I was planning to take a long position when the price was forming the bull flag pattern. I was waiting for the third touch on the lower TL shown in the picture + the price gave us a little descending correction (hover) as a reversal signal & took the trade at the breakout. I am currently running at 4% and already moved my SL to BE. Will be looking to lock below 1H corrections to secure profits. You have to be patient and take quality trades. #THEPRIMES
Long
by alex_k_95