"Bull Flags" Are not Infallible.

29 ต.ค. 2023

I recently made a bear forecast on BTC and have been told scores of times about the "Bull flag".

This is not an infallible pattern that is only found in bull moves. We, in fact, see this occur in the top of most moves before a capitulation period.

Here I've shown this signal in the high before the 2020 crash and I've also pasted in a couple images from posts done back in mid 2021 (Before any major highs were) made where I taught people to spot these patterns and not easily fall into the trap.

I see the bull flag like pattern in BTC.

Like I can see the one people spoke about in SPX, which now appears to be failing.

https://www.tradingview.com/x/LyqK6a9f/

If everything was as simple as watching a few YouTube videos and betting on the classic patterns, the market would not work.

Who would be the one selling to you when everyone can see the bull flag if that was a certain indicator of it going higher?

Bull flag like patterns usually also appear in various types of distribution patterns.