BTCUSD Possible Reversal With Bull Flag After Downtrend on 4H?
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When it first formed it looked more like a triangle, symmetraical triangle, however now it looks like a bull flag pattern reversal possiblity after downtrend.
Just sharing an obsersation. Nice one to follow and see what results appear and how it breaksout. If its a bullish breakout, since its with trend reversal, it could breakout into an ascending parallel channel which we can trade with longs on its way up between the top and bottom trendlines of the channel.
Just sharing an obsersation. Nice one to follow and see what results appear and how it breaksout. If its a bullish breakout, since its with trend reversal, it could breakout into an ascending parallel channel which we can trade with longs on its way up between the top and bottom trendlines of the channel.
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Be careful on this one. To reverse the current downtrend a strong move is needed which means with volume if not the sellers may push it back below the previous resistance with no effort at all. Probably have to observe for a longer period of time and observe how the sellers react to it. Good luck!Nota
You can also wait and see after this reversal bull flag pattern what kind of pattern it breaks into before deciding to get in a trade. Ideally an ascending parallel channel is formed which will give us plenty more long opportunities trading within the safe zones of the top and bottom trendlines of the channel and with cheap stop loss cost possibility just below the trendlines in case price suddenly reverses out of the channel and back down again.Nota
Guess what. ETHUSD has confirmed reversal and uptrending in an ascending parallel channel. Posted by @Moiseiev_Yurii :
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The ascending parallel channel for ethusd seems to be in the larger symmetrical triangle pattern and could be on its way to break out of it. Interesting to observe. Smaller pattern within the larger one.
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Just to share my thoughts. Since we are at the crossroads trying to flip the downtrend to an uptrend after a huge dump it is advisable to observe for a longer period of time first, unless you are like me trading only small amounts that i can add on to at a later time and even if its stays underwater for awhile i won't feel stress about it. Small position i usually give it freedom of time.On the positive side, ethusd did have a inverse head and shoulders play out but not with much agains and not much volume. Here is the chart.
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Crypto Fear & Greed Index is still at its bottom levels. Was 9/100 (Extreme Fear), it is 8/100 today and the lowest in its history was a 5/100 so the market is definitely fearful especially after that record dump in one day. Soe other stocks also had lows never seen in recent times.Best method of investment now is through Dollar Cost Average, buy now and sell when you have comfortable profits or think that temporary resistance levels have been reached and continue the same way to halving. During this period accumulate 50% and 50$ continues trades.
The halving effect is not immediate and usually only starts affecting the price after a few months from halving sometimes. So thereis still alot of waiting time.
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<img src="alternative.me/images/fng/crypto-fear-and-greed-index-2019-2-21.png" alt="Crypto Fear & Greed Index on Mar 17, 2020" />Nota
<img src="alternative.me/images/fng/crypto-fear-and-greed-index-2019-2-21.png" alt="Crypto Fear & Greed Index on Mar 17, 2020" />Nota
ho don't already know, here is where you can check the daily crypto and fear idex. It is an interesting indicator you can use as one of many other factors, patterns and fundamentals to support a long trade entry.alternative.me/crypto/fear-and-greed-index/
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Ascending Parallel Channel Trades Possibilty
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