BTCUSD: Bull-Flag-Formation Breakout, Targets to Watch!

May 5

Hello,

welcome to my new analysis about BTCUSD on the 30-minute timeframe perspective. In the recent times I have spotted a interesting setup which is likely to convert into substantial bullish breakouts in the next times. This is a strong opportunity to make a surplus profit.

As when looking at my chart we can watch there how BTCUSD bounced several times in the 20-EMA marked in green. Above the horizontal support at 80500 it is now forming a bull flag formation. I am expecting the formation to complete within the next times.

By completion of the formation BTCUSD will activate the bullish target zones as seen in my chart. The first target zone is at the 81750 level. The second target zone is at the 82300 level. The third target zone is at the 84000 level.

An aggressive entry to this trade would be to enter immediately. An conservative entry is when BTCUSD breaks out of the bull flag formation and continues bullishly above the 81280 level. A stop loss can be placed below the 80200 level.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP

May 6

Trade active

May 6

Note

TRADING AND ANALYSIS UPDATE:

BTCUSD increased bullish volatility and momentum. ✔

It already reached the second bullish target zone.

With this dynamic continuing, the third target zone will be reached sooner rather than later. 🚀