![]() If a crypto is consistently hitting higher and higher price targets, then it is considered to be in an uptrend. Higher Highs and Lower Lows is a particularly useful pattern for identifying if a cryptocurrency is an uptrend or a downtrend. However, the flag pattern tells us that this downtrend is only momentary and that the uptrend will once again resume, which is what ends up happening in the chart above.Įven though a flag pattern may indicate a continuing uptrend, it is important to look at the volume to see if this uptrend can be sustained. For example, from the BTC/USD chart above, there is a clear initial uptrend (flagpole) which is momentarily reversed resulting in a downtrend. ![]() ![]() ![]() The purpose of the flag pattern is to identify the possible continuation of a previous trend that has been reversed. ![]()
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