THE BULLISH FLAG PATTERN( MAJOR MOVE)
The rectangular flag moving down to the right side, holding its support and resistance levels inside the flag signals for breakout to the upside.
Not much to talk about on BULLISH FLAG PATTERN as we have talked about it on different price analysis.
The only thing different with this chart is the *REJECTION WICKS* which shows that price has been rejected several times trying to breakout in one direction. Most importantly we still advise all traders to wait for breakout before taking a position. VOLUME descends 67% of the time, a breakout in volume should happen soon.
VERDICT:
BUY: $143
SELL:$147 up to $154
STOP LOSS:$137
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
The rectangular flag moving down to the right side, holding its support and resistance levels inside the flag signals for breakout to the upside.
Not much to talk about on BULLISH FLAG PATTERN as we have talked about it on different price analysis.
The only thing different with this chart is the *REJECTION WICKS* which shows that price has been rejected several times trying to breakout in one direction. Most importantly we still advise all traders to wait for breakout before taking a position. VOLUME descends 67% of the time, a breakout in volume should happen soon.
VERDICT:
BUY: $143
SELL:$147 up to $154
STOP LOSS:$137
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.