Bitcoin Bull Flag Ascending Triangle Long to $29K
Hello Future Millionaires!
Wow, what an epic ride this bull has been thus far!!! Albeit I suspect we are nearing a short to medium term high, I suspect we may have one or two more pushes before a 30-40% pullback!
I am looking to long this bull flag/ascending triangle if I see a close above the prior 4H high at $24,016.
The target for this long has confluence with the 4.618 Fibonacci extension from the 26th, November, 2020 range low to the 29th, November, 2020 range high at $19,714.5, which comes in at $28,982.
The measured move for this flag poles comes in at around $29,400, which very close to the 4.618 Fibonacci extension! Further, both numbers very close to the psychological number of $30,000. I would not be at all surprised if we see wicks up around $30,00 should we break out from here!
Daily Fibonacci Extension:
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Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
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Entry: 24016
Entry Zone:
T1: 24,500
T2: 25,000
T3: 26,000
T4: 27,000
T5: 28,000
T6: 28900
Stop: 22637
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R:R: 3.54
Risk: 5.74%
Reward: 20.34%
Leverage: 5X
Leveraged Risk: 28.7%
Leveraged Reward: 101.70%
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Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Wow, what an epic ride this bull has been thus far!!! Albeit I suspect we are nearing a short to medium term high, I suspect we may have one or two more pushes before a 30-40% pullback!
I am looking to long this bull flag/ascending triangle if I see a close above the prior 4H high at $24,016.
The target for this long has confluence with the 4.618 Fibonacci extension from the 26th, November, 2020 range low to the 29th, November, 2020 range high at $19,714.5, which comes in at $28,982.
The measured move for this flag poles comes in at around $29,400, which very close to the 4.618 Fibonacci extension! Further, both numbers very close to the psychological number of $30,000. I would not be at all surprised if we see wicks up around $30,00 should we break out from here!
Daily Fibonacci Extension:
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 24016
Entry Zone:
T1: 24,500
T2: 25,000
T3: 26,000
T4: 27,000
T5: 28,000
T6: 28900
Stop: 22637
--
R:R: 3.54
Risk: 5.74%
Reward: 20.34%
Leverage: 5X
Leveraged Risk: 28.7%
Leveraged Reward: 101.70%
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
Let's get this crypto! ❤️
T1: 24,500 - HIT!!! (10.08% gain)
T2: 25,000 - HIT!!! (20.49% gain)
T3: 26,000 - HIT!!! (41.31% gain)
T4: 27,000 - HIT!!! (62.13% gain)
T4: 28,000 - HIT!!! (82.94 gain)
T1: 24,500 - HIT!!! (10.08% gain)
T2: 25,000 - HIT!!! (20.49% gain)
T3: 26,000 - HIT!!! (41.31% gain)
T4: 27,000 - HIT!!! (62.13% gain)
T4: 28,000 - HIT!!! (82.94 gain)
Related Ideas
T2: 25,000 - HIT!!! (20.49% gain)
T3: 26,000 - HIT!!! (41.31% gain)
T4: 27,000 - HIT!!! (62.13% gain)
Let's get this crypto! ❤️