Top 5 Weekly Trade Ideas #2 - Bitcoin Bull Flag Retest

Nov 5

I've been watching this bull flag for a long time now like I'm sure many have. We finally got the breakout recently before rejecting at ATH. Just had a near perfect retest and bounce so I think it's a great spot for long entries. I would expect more upside from here and an eventual ATH break that could lead to a move up to 100k.

For now I would just play this bounce back up near ATH. If it breaks ATH then I'd be looking for dips to buy, preferably on a retest.

Nov 6

Trade closed: target reached

BTC now up over 7k since. Had a little pullback near ATH but exploded after breaking. This has a lot going for it right now. We have a cup and handle breakout on the weekly which is also part of a bull flag/handle breakout and near perfect retest. Now we have an ATH break. It's hard to pick targets with a setup like this but I think it's a good time to take some profit and begin looking for dips to buy.