Bitcoin bull flag on the 3 day chart is a possibility?
A bull flag is a bullish chart pattern formed by two rallies separated by a brief consolidating retracement period. The flagpole forms on an almost vertical price spike as sellers get blindsided from the buyers, then a pullback that has parallel upper and lower trendlines, which form the flag. This pattern is reliable, consistent, and common. A bull flag fails or is invalidated once it breaks the low of the breakout candle. That would be 55k in this BTC 3 day chart.
long = 61k
stop = 55k
profit = 75k
A bull flag is a bullish chart pattern formed by two rallies separated by a brief consolidating retracement period. The flagpole forms on an almost vertical price spike as sellers get blindsided from the buyers, then a pullback that has parallel upper and lower trendlines, which form the flag. This pattern is reliable, consistent, and common. A bull flag fails or is invalidated once it breaks the low of the breakout candle. That would be 55k in this BTC 3 day chart.
long = 61k
stop = 55k
profit = 75k
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TTCATR indicator overlay:
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afternoon update:
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Bitcoin 3-day chart ATR levels:
R3 = 75,498
R2 = 72,072
R1 = 68,645
SMA = 65,219
S1 = 61,792
S2 = 58,365
S3 = 54,939
R3 = 75,498
R2 = 72,072
R1 = 68,645
SMA = 65,219
S1 = 61,792
S2 = 58,365
S3 = 54,939
Comment:
Bitcoin 3-day candlestick printed 67,046
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Bitcoin 3-day candlestick printed 71,432
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fyi, for whatever reason, Bitcoin has a high probability to go down on Tuesdays. So it would be prudent to take partial profit now.
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Now it's good to get back long 67k for the 3 day weekend
Trading indicators:
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