BTC bull flag
BTC is forming a bull flag on the 4h chart.
Characteristics:
- Rally almost vertical (pole)
- High volume on the rally
- Volume gradually shrinking (taking profit)
- Slightly downward angle
Objective = Pole length (in this case 10%)
Stop-loss = Below support line (in this case 2.39% from current price or 47300)
Tomorrow I will share a very interesting view on BTC which I have been working on for quite a while.
Now enjoy this short term upside movement with a RR of 4.78 (almost 5 times your position).
Honestly, I will be really careful at that point with BTC...I am still waiting for a retracement, nothing goes in a straight line forever...be prepared.
Characteristics:
- Rally almost vertical (pole)
- High volume on the rally
- Volume gradually shrinking (taking profit)
- Slightly downward angle
Objective = Pole length (in this case 10%)
Stop-loss = Below support line (in this case 2.39% from current price or 47300)
Tomorrow I will share a very interesting view on BTC which I have been working on for quite a while.
Now enjoy this short term upside movement with a RR of 4.78 (almost 5 times your position).
Honestly, I will be really careful at that point with BTC...I am still waiting for a retracement, nothing goes in a straight line forever...be prepared.
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