WTCBTC

WTCBTC

Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line price run (the flagpole), then you don't have a flag. The best performing flags have a long, near vertical flagpole.

WTCBTC BULLISH FLAG PATTERN.

Price trend Can be any direction leading to the chart pattern, the Shape Looks like a small rectangle often tilted against the prevailing price trend. Looking at the Trend lines Prices move between two parallel, or near parallel, trendlines. The duration of 3 weeks Flags are short, less than 3 weeks long. Patterns longer than that are rectangles or channels. The flagpole which leads to the flag should be unusually steep and last several days.

AND MOST IMPORTANTLY:
Volume trend Downward trend 71% of the time.
Breakout Upward 54% of the time.

price moved down respecting the rectangular flag, which brokeout but pulled back to retest the resistance and turned to support twice before a measured move up was achieved at fib extension of 1.618.

Price brokeout and finds its way to the 0.5fib retracement level retraced down back to 0.236 which at the same time formed another flag and moved to breakout from the 0.5fib. An exact movement is loading up and the rectangular flag is almost completed.

Technicals suggest that the little end in the  bear trend is close with a likely test of the 0.0012009sats - 0.0011276 zone. If flag is completed a measured move uo to meet the 0.5 fib retracement level ( 0.0021954sats)will be achieved before another move or throwback

 

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

 

 

 

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