As we come to the EOM, a pretty well defined Monthly bear flag can be seen in the Dow Jones Industrial Average. Alongside this bearish setup, the current trade war is posing a big threat to global economies. Rising interest rates, tax cuts in a growing US economy, trade war threatening growth across the globe, this is not a time to be complacent in my opinion....
I've set alerts and pending orders should Bitcoin take another dive down. I've been trailing stops from earlier swing trade positions which are now resting at $6,300.
In line with the current down trend, I'm looking for areas to add to my position.
We can see a bear flag is setting up along the trend line. A break here would likely result in a long red candle...
The power of trading patterns cannot be under-estimated.
While there will always be a 'story' that follows the triggering of a chart pattern, solely relying on fundamentals to trade is not stacking the odds in your favor.
We can see numerous bearish patterns that have all triggered. Being able to identify the patterns in the making and then executing, allows you...
Looking at the hIgher timeframe on Etherium Classic, we can see a BEAR FLAG is starting to form.
I'm looking for a swift clean break to the downside with Target 1 at the 1.272% Fib extension and a 1.618% FIB extension. I will be using a STOP LIMIT order to catch the fall.
This trade does rely on how Bitcoin -1.00% reacts over the weekend of course. But with...
I am expecting the current bear flag to resolve to the downside and break out of the rising wedge. This will set us up for the next major leg down if we don't hold support at 6100. This will be the 4th time testing the 6k support zone and I don't expect it to hold. Target remains 5k.
FUN broke out today and is up +25% this is quite a massive spike in price and I can see a correction coming soon.
Wait until Bear Flag is confirmed by breaking downward through upward support line. If Bearish movement is confirmed place sell order.
We are forming a rising wedge Or you can also say a bearish Flag over there but The thing is we are going to test at least 6k. Can drop to 5.4k.
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Ok, here's an updated analysis of Bitcoin.
We're trending down in down channel of the pitch fork. There won't be any significant bullish action on any crypto asset until Bitcoin breaks out of this channel.
You can see the whole move down as a sequence of nested WXY in a wave Y of a larger degree WXY. Some parts of it can be counted as 5 waves of A and C of ABC....
So This is time for conclusion because rally is not that much strong I sold all my coins I am Expecting to go down again but if we go up buying target would be above the yellow circle .
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Here's my latest take on Bitcoin.
We had a massive selloff as predicted, Bitcoin have breached 6400 major support to hit the bear flag target and almost reached 6000. This is it for now. You could have a nice profit if you went short.
There was a strong bull reaction at the bottom on M15, so Bitcoin's not dead yet at these levels - you could see a huge spike in...
Hidden Bear Divergence w/ BB %B
Divergence also exists on higher TFs
Divergence exists with a BB %B of length 30 as well
Break down of wedge expected before upward continuation to test 8K as resistance, however targets for Bear Flag are presented in case of downward continuation
There is a High probability, Low Risk Short Set-Up present, but this post...
Got a bearish flag on the OBV. With all the bullish flags being invalidated it makes me think the bearish flags will be validated. This chart is mostly just some points and patterns I found of interest. Not Really sure what to make of it all, what do you guys think? What patterns do you see?
BTC - Potential bearflag
one smaller pole
one bigger pole
Both with different price targets.
Pattern is confirmed when it breaks down with volume and stronger price movement
Last post: May 25th. See chart .
Review: Price was continuing to weaken as the bears remained in control of the market.
Update: Price pulled back to resistance and the bears are now back in control with good weakness towards the end of the week.
Conclusion: A break and close below the draw-in pivot support is still required and ideally in the form of a bear...
