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Bullflags

Large WEEKLY bull flag forming on LINK|USD (0.618 RETRACE MET)I'm back with my first chart since May 17th where i stated that we may see a huge move in bitcoin in June to Early August if you are interested in that idea it will be linked in the related idea section below. Now on to the CHAINLINK analysis. On the weekly we are forming a bullflag on LINK that is very much visible on the Heikin Ashi candles and is fairly visible on the traditional candlesticks. We are also still very much inside our up-sloping (Parallel-Channel) along with that link as hit the 0.618 retace and bounced and is now trying to break above the downsloping resistance i can see us maybe trying to double bottom before actually breaking to the upside. The 0.618 fib lvl here has alot of support, one of which being that it's a lvl that has some weekly opens and closes; the other being that the 75% line of our up-sloping parallel channel is confluent with the 0.618. Why use Heikin Ashi? Well in this case it just makes the chart look much cleaner and overall gives more visibility to any patterns we may think we see on the traditional candlesticks. One the daily we have triple MACD Hidden Bullish Divergence which is a sign of continuation in bullish price action. If you are interested in viewing the daily candlestick chart here's a screencap. This shows the hidden divergence and what the daily price action looks like on the traditional candlesticks: How will i be trading this? naturally i will continue to buy near the 618 and will begin to partially sell as we hit weekly candle close highs around the $2.8-$3.15 area but i personally plan to hold most of my link until we reach the top of our parallel channel on the daily screenshot around the $5.50 mark overall im very bullish on LINK and my stops will be much steeper and my targets much higher than the targets i listed on the chart but for anyone reading this and only looking for a short term trade they should adjust accordingly.
BINANCE:LINKUSDLong
by RizeSenpai
Bull Flag Gives 20% Gain OpportunityThere appears to be a bull flag forming on the $INS chart. If we can close above the upper resistance, i anticipate us to see a 20% increase at least. This is a hot coin right now and i think this chart looks healthy. This is all coming after $INS turned support into resistance. If the flag breaks down, I would anticipate price to touch the bottom of the wedge. As always, use a stop loss in this trade. *This is not financial advice. I am not responsible for any losses of money.*
ILong
by ParCrypto
BTC dominance continues raising, when will it stop?BTC dominance (BTC.D) continues raising, when will it stop? Base on a simple Fibonacci retracement draw, we can expect the (72 - 74%) values will be the top of this rise. There was a small difference (about 1-2%) between Tradingview and Coinmarketcap.com's calculation. So the relative values for coinmarketcap.com should be 70 to 72%. We are so close to the important turning point, which is a good fertilizer for the altcoin blooming season (as talked on the previous post). There are 2 scenarios for the next move of BTC.D and BTC price, which are: 1) If BTC.D exits all patterns at the current values (around 70%), BTC will enter mid-term downtrend, but its price will keep less volatile. 2) If there have a massive pump or dump of BTC price, BTC.D will rise to 61.8% Fib. level. If BTC.D rejects that level, the altcoin will enter the blooming season, otherwise, the altcoin will bleed more and find a new bottom. In my opinion, the 61.8% Fib. level always be a strong resistance that, will reject BTC.D to go further, there will have a good chance for altcoins to recover their losses by the last months.
CRYPTOCAP:BTC.DShort
by Batrachotoxin
2
BTC Thoughts Thru September (Novice Analysis)Potential Bull Flag waiting to play out on the BTC CME Futures Expecting overall decline in volume to continue until bottom of flag is tapped again and the CME Gap (green circle) is filled 1M candle printing out an attractive inverted hammer for August to add conviction to my bullish bias This implies we continue upward after filling the gap and buyers overtake sellers in this last beauteous opportunity to buy BTC under $10k before attacking ATH
CME:BTC1!
by Hrempe
High TF analysis on BitcoinBasically I see this as a descending triangle, with a technical target possibly below 5k (yikes!). This bearish triangle looks more complete on the daily or 4hr chart but I also wanted to show you that this also looks like a massive bull flag (in pink) on the weekly time-frame LOL. Target for the bull flag would be at the 20k resistance level, and I will enter a long if we get a weekly close above the top of the descending triangle. Stop for this trade will be placed relative to the breakout price. I will then look to flip short on a rejection of 20k and ride it towards the 13.5k support area; if we don't moon past 20k initially. If we weekly close below the support area of 9.4-9.5k, or if we lose 9k, I will be opening a short with a stop around 95~~. Target for the short will be 5k, and I will likely play some of the green levels on the way down. Until a breakout of the triangle, day traders may like to range trade the top and bottom of the structure using their preferred stops. *There are some nice support and resistance levels hidden inside there as well but I wanted to keep this chart fairly clean and simple. Play safe kids!
BITMEX:BTCUSD.PShort
by Pillarstric
Is Bitcoin going to break this Bull Flag / Descending Triangle??It appears as though Bitcoin Is getting ready to go parabolic over the weekend & touch the top of this Descending Triangle, or potentially try to break this Bull Flag & put in a higher low. Only problem I have, the volume etc are declining, so I'm not overly bullish. It's hard to look for bullish patterns in a short term bear trend that potentially started roughly late June this year, egh. Time will tell per usual.
BITFINEX:BTCUSDLong
by ScotianBot
2
Red Dildo Alert! Bullflag Alert ! :DHeya All my fearful and panic engulfed people, Things are not looking too good now, yet they will get worse before they get better. How worse you ask? 8.5K I'd answer.... how better you ask, and I''ll answer to 16K and beyond... Have charted this bull flag several weeks ago and looks like it is finally taking the shape that I am comfortable sharing. This flag is as textbook as the bull flag gets, has all the right components and is accompanied with decreasing volume profile. I suspect that correction will continue further to 8.5 levels, thus accomplishing 4 things: 1. Completing the flag formation 2. Kissing 21 Weekly EMA 3. Filling the CME's gap ( if this is something that you fancy) 4. Fueling the wet dreams of "Fib circles of death and capitulation" guys by bringing price action to major FIB retracement level. To summarize: 1. We will continue to bleed for another week 2. There might be intermittent bounces here and there, but nothing major. 3. Keep your leverages under control and stop-losses tight. One more thing: Today Forbes has published this article. Which is extremely well researched yet it lacks the depth and overall understanding of the crypto market. It pledges current correction to events that are unrelated to BTC fundamentals as well as price and arguments that BTC price action is soaring because of things not going as expected. However, I would agree with with the sentiment of this piece on one thing, BTC is currently de-coupling itself from #shitcoins and this process comes with an accompaniment of blood sweat and tears. I would even argue that After massive decoupling event that will most likely take place in August and September we will see more red days (both on BTC and Alt Side) and some of the Alts will acquire their true value and market capitalization of Zero. www.forbes.com This is not some #moonboy talk. I keep my opinion to myself and let charts and my #Cat speak to me and you instead. My cat is a real market wiz and this was the message that I have received from her. :D :D :D www.instagram.com Stay safe people and have a productive as well as a lucrative week! Cheers Archie
BITFINEX:BTCUSDShort
by akublashvili
Daily Market Analysis - BTCThe market cap has continued it's pullback and is down to $287B. Dominance has also dropped further and is down to 68.16%. The price of Bitcoin is at 10,900. Price action broke to the downside of the bullflag forming new trendlines and bouncing from a re-test of support at 10.700. Lower timeframes between the 1 and 4 hour have oversold indicators, but there is a bearish divergence between price action and volume (orange lines for those in discord) Our daily timeframe is still overbought according to the Stochastic RSI. Whereas, the RVI is telling us the volatility and momentum are lowering on the way down. Overall, the trend is still bullish, but the short-term price action could be bullish unless the volume begins to pick up. Bearish: Price action falls below 10,700 and re-tests the next level of support at 10,500~ Bullish: The sub 11,000 entry could entice buying pressure at these level to rebound and test topside resistance at 11,000 - 11,300 Bullish 60% / Bearish 40%
COINBASE:BTCUSD
by SpektreSignal