Binance Coin / TetherUSUpdated BNBUSDT is inside a bullflag
BNBUSDT is currently showing a clear Adam and Eve breakout on the daily chart, with the price breaking out of a previous consolidation pattern. The price is now inside a bull flag pattern, which is typically seen as a continuation pattern. The flag is located below the supply zone, indicating that there may be resistance at this level. Overall, the current price action suggests a bullish bias in the short-term.
A bull flag is a continuation pattern that typically forms after a strong upward move, and the price consolidates before continuing the uptrend. The flag is characterized by a rectangle pattern with parallel lines that serves as support and resistance levels.
In the case of BNBUSDT, the price has been consolidating within the bull flag for some time, and currently, traders are waiting for a clear breakout from the pattern. A breakout above the resistance level of the flag could signal a continuation of the uptrend, while a breakdown below the support level could indicate a potential reversal. Therefore, traders should keep an eye on the key levels, volume and other indicators to confirm the trend. It is also important to note that a bull flag breakout is considered a high-probability trade, so According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
A bull flag is a continuation pattern that typically forms after a strong upward move, and the price consolidates before continuing the uptrend. The flag is characterized by a rectangle pattern with parallel lines that serves as support and resistance levels.
In the case of BNBUSDT, the price has been consolidating within the bull flag for some time, and currently, traders are waiting for a clear breakout from the pattern. A breakout above the resistance level of the flag could signal a continuation of the uptrend, while a breakdown below the support level could indicate a potential reversal. Therefore, traders should keep an eye on the key levels, volume and other indicators to confirm the trend. It is also important to note that a bull flag breakout is considered a high-probability trade, so According to Plancton's strategy, we can set a nice order
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Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ black structure -> <= 1h structure.
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Follow the Shrimp 🦐
Note
Waiting for the breakoutNote
Wait for the breakout and retest
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