Alikze »» MKR | Bullish Flag

6 Jul

🔍 Technical analysis: Bullish Flag

- It has been moving in an ascending channel in the daily and weekly time frames.

- According to the analysis presented in the previous post, there has been a modification to the bottom of the channel and the ceiling of the previous major.

- There is now an ascending flag form with a pullback to the broken cap structure of the major.

- Therefore, if the green box meets the demand, according to the momentum and corrective structure of wave 4, it can have targets of 5000-5600-6250 up to Fibo 1.618. To continue the path, it must be above 2500 dollars to touch the specified goals.

💎 Alternative scenario: In addition, according to the previous analysis, if the green box breaks down, the next target can be the range of $1250.

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16 Jul

Catatan

After the support in the green box, with the break of the dynamic trigger, it has so far managed to advance to the supply zone. Therefore, by maintaining the range of 2500, it can touch the first supply area as the next target.
If the behavior and structure of the post changes, it will be updated.

26 Jul

Catatan

After breaking the bullish channel or flag pattern, above the $2500 zone, it was able to continue its growth in the supply zone. Currently, in the supply area, sales pressure has been faced, which has led to price correction.

11 Okt

Catatan

After successfully exiting the descending channel, it faced selling pressure and entered the corrective phase.
In the green box area, after a short support, it led to the lack of stabilization above the area, which has undergone further correction up to the specified area.
Therefore, I expect it to face demand in the range of $1,250 and have a return movement to the supply area.

17 Okt

Catatan

According to the trend, it is currently in the range of 1253. For confirmation, you can wait for Kandili's confirmation to return.