Does technical analysis still work on Bitcoin?
🔸 I'm continuing my experiment. That time I'll try to figure out which tools of classical technical analysis are still working on Bitcoin.
🔸 In my last idea, I considered trendlines from which price periodically deviates to take liquidity:
📈 This time, my attention was drawn to the downward channel on BTC, which perfectly fits "bullish flag" pattern - continuation trend figure.
⚡️ According to the rules, after consolidation in the channel, price must break through the upper border of the flag and cover distance equal to the price movement before forming the pattern.
☝🏻 I don't use this pattern in my trading strategy. Just analyzing statistics of successful ones.
🔸 In my last idea, I considered trendlines from which price periodically deviates to take liquidity:
📈 This time, my attention was drawn to the downward channel on BTC, which perfectly fits "bullish flag" pattern - continuation trend figure.
⚡️ According to the rules, after consolidation in the channel, price must break through the upper border of the flag and cover distance equal to the price movement before forming the pattern.
☝🏻 I don't use this pattern in my trading strategy. Just analyzing statistics of successful ones.
Nota
👀 Bitcoin approached the upper border of the channel.Nota
Nota
🚀 Bitcoin is breaking out of the flag:Trade ativo
After repeatedly testing the upper border of the flag, Bitcoin began an impulsive upward movement:Trade fechado: objetivo atingido
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.