The holding company for Primark which is known as "Associated British Foods" chart currently shows a classic bear flag formation, with a perfect straight top which is acting as a strong resistance, and an upwards trending bottom support line which mainly seems to be driven by traders looking for small profits within this trading range. There is no real drive to...
Is bitcoin currently at the end of a giant bull flag on the weekly chart?
A breakout of this pattern could be imminent.
I think it will be a matter of wait and see, but there is the possibility of much lower lows before then and a later date to reach $30,000 USD if the breakout does not occur soon.
Watch this stock as there could be massive gains. If it starts to go up, follow it up with a trailing stop loss. We could be seeing a formation of a bull flag pattern, so look out for confirmation with a break to the upside.
Possible quick profits on a short position, but the trend is generally upwards. The gap could get filled quickly followed by a return to the upside due to increased sales of surgical masks in the COVID-19 pandemic.
The three rising valleys (3RV) pattern on the bitcoin chart has always been a reliable chart pattern to predict future price based on back testing, and the confirmation of breakout of the pattern which begun on 13th March 2020 and ended on 11th May 2020 with breakout on 1st June 2020 gives a reliable prediction that the bitcoin price could reach $15,886 in the...