Bitcoin tips: Bullish and Bearish Flags

[reck1ess]

I just want to share a simple tips and knowledge of what i have learn from a facebook friend.
A weeks ago, while i was exploring on a group of bitcoin users in facebook, i met a person that is knowledgeable in trading. Since i have not much knowledge in trading, i tried asking him several questions on how to do trading and where should i start. Then he told me that cryptocurrency trading such as bitcoin is also have the same concept of forex trading, then he told me to study basic of forex trading. Then after that i started reading about the basic of trading until i came up into this topic about bearish and bullish which easily caught my attention because of being able to see these words in this forum. So i started to look at the graphs and search some videos until i saw these (check the picture).

This may be a simple graph but it can be helpful for newbie like me in trading. These are the flags or something like checkpoint to know whether a coin/token will go down or rise up.
The one on the left(picture) is called Bullish Flag, if you see a graph something similar to that(left picture) then it is another way of telling that a coin/token value will go up and the one on the right(picture) is the Bearish flag the opposite of the bullish flag which shows that a coin/token will go down if you saw a graph similar to that(right picture).
Although it is not that accurate but for me it helps a bit for it gives me an idea on when to buy and when to sell but we all know that there are still a risk. Try also searching for tutorials about the two flags to get more idea about it and knowledge in trading. Although there are still more ways to predict or to get an idea of when will be the highs and lows other than these. Hope that it will help a bit.

Edit - here is the link if there is problem loading the picture.
https://www.forex.com/~/media/forex/images/education/articles/technical-analysis/bullish-and-bearish-flags/bullish-and-bearish-flags-chart.png



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Here are some of my threads that might be also helpful to you
Bitcoin Tips
Bitcoin Starter pack:       https://bitcointalk.org/index.php?topic=2861680
The 10 Commandments: https://bitcointalk.org/index.php?topic=2856970.0
Bullish & Bearish Flag:   https://bitcointalk.org/index.php?topic=2843383
Factors that affect bitcoin price: https://bitcointalk.org/index.php?topic=2867326
Avoiding Scams: https://bitcointalk.org/index.php?topic=2874379

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[OhBow0709]

You got my attention Bro! I couldn't see the picture of the graph you're talking about, is it alright if you will provide the link of that image from a photo hosting website? I'm also looking for some infos about Trading, thank you so much! I really appreciate it ..

[reck1ess]

You got my attention Bro! I couldn't see the picture of the graph you're talking about, is it alright if you will provide the link of that image from a photo hosting website? I'm also looking for some infos about Trading, thank you so much! I really appreciate it ..

Hello there, i have updated my post so if ever you can't still view the picture the link is in the bottom. Thanks for the correction.

[paolo099]

reading a graph is always difficult for me.. i have tried couple of times following this kind of rules (the ones you posted) and failed miserably.
You can actually see a trend going on but deciding the right time to sell/buy is not as easy as it seems.. at least for me.
This can be a good hint but you should take it always with a pinch of salt, bearish and bullish warning can be seen with some expert eyes as you mentioned but in this world, nor in forex, there is no way to be 100% sure of anything, we can just try

[tophe15]

Upon reading this post and noticing that maybe I can't load the picture, I search what's bullish and bearish are and read about some info about it. It's the simple explanation of downwards and upwards of the value or price of a certain product or business. Surely your friend has given you a good advice that can be also applied in buying Bitcoin and like what you said sir it's a matter of risk and chance that we don't know if it will be a good choice or not.

[ikilledcobain]

I honestly don't really trust technical analysis. I think most of it is smoke, mirrors, and luck which is why I tend to hodl. I have a sneaking suspicion that markets could be predicted with some accuracy using Mandelbrot sets (fractals) - but I keep putting off looking into it as it would be quite an undertaking. 

[Duzenn]

I don't know why, but I don't really believe in predicting market behavior by judging rising trends or declining trends.
I only believe that a few people make money, so when the market mood is high, it's a good time to sell. When the market mood is low, it's time to buy.

[gabbie2010]

There are several types of price action strategies in trading but majority of them don't really works with cryptocurrencies unlike spot forex, I belief it is due the nature of Cryptos I.e high volatility and in most cases fundamental news is the major mover of prices of Cryptos with some price action and candlestick patterns.

[LeonardoDiCrypto]

That's a nice way to give an useful information for anyone willing to start trading. The fact that a price is moving in a channel in one direction could trick you into believing that this is the trend while the flag pattern is indicating the opposite.

[squallw]

Technical analysis is good, you may analyse fundamental things too but you can't predict the future, sometimes you waste hours analysing and you mistake your prediction.
So trade carefully, maybe with stop loss or stop gain.

[kimkimkim852]

Thanks for the tips!

So basically, is it a bullish or bearish market for btc, or the market as a whole?

[reck1ess]

Thanks for the tips!

So basically, is it a bullish or bearish market for btc, or the market as a whole?

It depends on each graph of every cryptocurrencies.

reading a graph is always difficult for me.. i have tried couple of times following this kind of rules (the ones you posted) and failed miserably.
You can actually see a trend going on but deciding the right time to sell/buy is not as easy as it seems.. at least for me.
This can be a good hint but you should take it always with a pinch of salt, bearish and bullish warning can be seen with some expert eyes as you mentioned but in this world, nor in forex, there is no way to be 100% sure of anything, we can just try

As what i have said there is no guarantee that this would be 100% accurate especially now that every cryptocurrencies are fluctuating. But on what i have observe it work when you check the graph on a bigger view( like per year) although there are many many ways that affect the growth of bitcoin aside from this one.

Technical analysis is good, you may analyse fundamental things too but you can't predict the future, sometimes you waste hours analysing and you mistake your prediction.
So trade carefully, maybe with stop loss or stop gain.

Agree, but consider that even if you failed even how hard you try, there is still a postive about it which is the learnings.

[rememberme15]

So, is there still no way for us to predict the top and bottom of the trend?

[reck1ess]

So, is there still no way for us to predict the top and bottom of the trend?

No one can predict the price of bitcoin for no one controls it, also its value depend on the supply and demand. We can just have a wild guess whether it will go up or down.

[LeonardoDiCrypto]

So, is there still no way for us to predict the top and bottom of the trend?

No one can predict the price of bitcoin for no one controls it, also its value depend on the supply and demand. We can just have a wild guess whether it will go up or down.

You may want to give a look to the technical analysis of a lot of traders, which you can find on this website:

https://www.tradingview.com/symbols/BTCUSD/

The all differ in their conclusions, proving that it is impossible to make predictions which surely will become true, but some of the analysts seem to get it right more often than others.

[amzadabir]

Over the last few weeks, Bitcoin saw a dramatic drop in prices falling from $ 20,000 to $ 6,000. After being submerged for around $ 6,000, the prospective investors have been scrambling to get a discounted coin. This growth is durable and it marks the end of stringent correction? Trading and investment in digital resources like Bitcoin and Ethar is extremely quick and brings many risks. These analyzes are for informational purposes and should not be considered investment advice. Statement of Bitcoin Magazine and BTC Media Site and financial information does not necessarily reflect BTC Media's opinion and it will not be considered as a recommendation or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

[CryptoBry]

Thanks a lot for sharing this one. I am just a newbie too when it comes to trading. And I really find it difficult to be reading and analyzing those graphs. In fact, I envy the many who can easily recognize trends just by merely looking at those figures. Maybe this is not really my forte and this is the reason why I already stopped my luck in trading...right now I just prefer to hold and then sell when there is already a good profit to be made.

[Uzunhahn]

Yes crypto have same concept like Forex, but it's not the same. crypto is much more volatile and it has own ''personality'' that is not similar to Forex.
Predictions are a long shot. Holding is the most secure option in many cases.

[Santory91]

Many people used to say that technical analysis doesn't work when analyzing Bitcoin, especially in its initial phase. However, with the increasing liquidity and market maturity, technical analysis has become more relevant for Bitcoin too. Still, I agree that holding Bitcoin can be a profitable long-term strategy. Besides, I often trade intraday. The analysis from professional traders often helps me make decisions. Read more information.

[KiaKia]

Upon reading this post and noticing that maybe I can't load the picture, I search what's bullish and bearish are and read about some info about it. It's the simple explanation of downwards and upwards of the value or price of a certain product or business. Surely your friend has given you a good advice that can be also applied in buying Bitcoin and like what you said sir it's a matter of risk and chance that we don't know if it will be a good choice or not.

What do you mean by you don't know if it's good choice or not? Risk is a very important thing in everyone's life, that's if you want for best for yourself, you need to expose yourself to risk, Sleeping and waking up every day is even riskier because death could come and take you away, and everything you did before won't count anymore.

Have you ever felt happy taking risks with something before? Whenever I DCA into Bitcoin this is how I always feel because I am taking the right risk, something many people can't picture themselves doing, they don't have the courage.

If you understand crypto investment very well risks isn't one of those things that will push you away from investing, risks are necessary in our life if we want to change our story.