Contributor Since 2018
Covesting is a fintech startup launched by former Saxo Bank traders. We are building a copy-trading platform for cryptocurrency traders, as well as a comprehensive infrastructure for crypto trading, which includes an exchange, liquidity aggregator, and informational and educational site Crypto Intelligence Portal. Covesting is fully compliant with regulations is one of the first companies that received a DLT license which allows to provide cryptocurrency exchange services.
As trading professionals with many years of experience, we are highly committed to providing the most user-friendly services and sticking to the highest security standards.
The BULLISH FLAG PATTERN(LOOSE PATTERN)(check previous charts on flag patterns for more details)
Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line price run (the flagpole), then you don't have a flag.
The best performing flags have a long, near vertical flagpole.
Price trend Can be any direction leading to the chart pattern, The shape Looks like a small rectangle often tilted against the prevailing price trend.
Prices move between two parallel, or near parallel, trendlines.The flagpole which leads to the flag should be unusually steep and last some days.
Volume trend Downward trend 71% of the time and Breakout Upward 54% of the time.
Price is loose inside the flag and not much strong support level is being held( trade with caution)
STOP LOSS: 0.00000476sats(ETH)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.