To achieve consistent profits in cryptocurrency trading, you need more than just luck—solid strategies are essential. Among the methods practiced by top traders worldwide, the bull flag pattern is known for its effectiveness and serves as a powerful tool for predicting the continuation of an upward trend. This guide will explain, step by step, the essence of flag patterns including the bull flag, from basic chart pattern analysis to practical trading techniques.
What is a Bull Flag: The Basic Structure of Chart Patterns
In chart pattern analysis, the bull flag is a bullish continuation pattern composed of two parallel trendlines. This pattern appears after a sharp upward trend (the flagpole), followed by a brief consolidation.