BTC formed Bull Flag on 1H with potential breakdown to 50-51K
Friends,
I would like to share with you my trading idea - a potential bull flag with a breakdown of 50-51K. Let's consider the following factors except for the classic bull pattern we observe.
1. After the last breakdown and ranging trading volume has significantly decreased which means power accumulation.
2. Meanwhile Volume Profile shows that the accumulation at 47100 during the current range was significant compared to the past accumulation at 41000
3. Reaction on 50MA: in the past, we observed how the price impulsively breakdown 50MA after testing it from the bottom.
Last but not least, RSI and Stochastic oscillators are cool off enough for the next move up.
This month I've already successfully predicted another bull flag which had played out perfectly, please check the related idea below.
I would like to share with you my trading idea - a potential bull flag with a breakdown of 50-51K. Let's consider the following factors except for the classic bull pattern we observe.
1. After the last breakdown and ranging trading volume has significantly decreased which means power accumulation.
2. Meanwhile Volume Profile shows that the accumulation at 47100 during the current range was significant compared to the past accumulation at 41000
3. Reaction on 50MA: in the past, we observed how the price impulsively breakdown 50MA after testing it from the bottom.
Last but not least, RSI and Stochastic oscillators are cool off enough for the next move up.
This month I've already successfully predicted another bull flag which had played out perfectly, please check the related idea below.
Trade closed: stop reached:
The bull pattern was declined and the price dropped covering the gap of 45000-47000. Lessons learned - we must align with the global vision even when the trade seems obvious.
