- Direction: Bullish
- Pattern type: Continuation
- A bullflag can occur within the context of a longer uptrend and following a steep upward move. Following this steep move the pattern the forms a short horizontal OR downward sloping channel shaped like a flag.
In the stock market de flag portion of the pattern shouldnt last longer than 3-4 weeks on a 1D chart. But since cryptomarkets move much faster the pattern could still show strength and be valid.
- Important support
- Potential bullflag
- Need volume for breakout
- Volume diminishing troughout pattern
- DEC 24th good entry; 1. RSI crossed SMA on 21st/22nd of december
2. MACD crossing upwards with first green candle in histogram
3. Volume slightly increasing while bulls are winning
4. Bollinger band was crossed + 4 candles, then wait for confirmation from RSI, MACD, and Volume
- RSI is getting supprt from SMA14
- Still potential bullflag
- Nice retest for support $1.45 zone
- If the volume can keep increasing up until above average with, a close above the upper descending trendline drawn across the highs, this would be a confirmation of the breakout.
- To set the target you'd have to measure the price movement of the previous steep move that led to the flag and then add that amount to the current price at breakout.
EMA's: The last significant cross was EMA9 crossing all of the others (50, 100 and 200) downwards while the EMA50 gave a false signal, seemed to cross the EMA100 downwards but then immediatly turned around and crossing EMA100 upwards right after. EMA9 has also crossed als of the others upwards now. next step would be the EMA50 confirming the 100 cross upwards. After that we should see al the EMA's change direction into an uptrend and providing support for the trend continuation.
- Pattern type: Continuation
- A bullflag can occur within the context of a longer uptrend and following a steep upward move. Following this steep move the pattern the forms a short horizontal OR downward sloping channel shaped like a flag.
In the stock market de flag portion of the pattern shouldnt last longer than 3-4 weeks on a 1D chart. But since cryptomarkets move much faster the pattern could still show strength and be valid.
- Important support
- Potential bullflag
- Need volume for breakout
- Volume diminishing troughout pattern
- DEC 24th good entry; 1. RSI crossed SMA on 21st/22nd of december
2. MACD crossing upwards with first green candle in histogram
3. Volume slightly increasing while bulls are winning
4. Bollinger band was crossed + 4 candles, then wait for confirmation from RSI, MACD, and Volume
- RSI is getting supprt from SMA14
- Still potential bullflag
- Nice retest for support $1.45 zone
- If the volume can keep increasing up until above average with, a close above the upper descending trendline drawn across the highs, this would be a confirmation of the breakout.
- To set the target you'd have to measure the price movement of the previous steep move that led to the flag and then add that amount to the current price at breakout.
EMA's: The last significant cross was EMA9 crossing all of the others (50, 100 and 200) downwards while the EMA50 gave a false signal, seemed to cross the EMA100 downwards but then immediatly turned around and crossing EMA100 upwards right after. EMA9 has also crossed als of the others upwards now. next step would be the EMA50 confirming the 100 cross upwards. After that we should see al the EMA's change direction into an uptrend and providing support for the trend continuation.
- Especially poeple that might disagree, I would love to hear why.
- I'm just a beginning trader so every sort of feedback will be helpfull.
Thanks!