#Bitcoin : Possible Bullish Setup, a quick update.
Clear Bull Flag Pattern on Bitcoin, the Bull Flag hits its target around 70-80% of the time and is one of the most reliable patterns to trade in parabolic bull markets.
Often the best entry point on a Bull Flag pattern is when the price "fakes out" underneath the flag support before the real breakout occurs.
22300-22500 we need to hold as support for it to continue up in the short term which is the flag support also, as long as we dont lose that area we have a probability of continuing up.
If we can see a breakout of resistance at 23900 the next target area is 25400-26900.
Often the best entry point on a Bull Flag pattern is when the price "fakes out" underneath the flag support before the real breakout occurs.
22300-22500 we need to hold as support for it to continue up in the short term which is the flag support also, as long as we dont lose that area we have a probability of continuing up.
If we can see a breakout of resistance at 23900 the next target area is 25400-26900.
Comment:
Another chart for reference, we are currently under a small resistance area so need to "confirm support" above 23700 for more upside. Be cautious until that happens.
Comment:
Current chart, Bull Flag still valid.
Comment:
Idea is playing out well!
22500-22300 crucial support to hold for this flag setup to keep moving.