BTCUSDT
Perp
90,348.9
-0.71%
BNBUSDT
Perp
893.4
-0.99%
SOL
134.11
-0.08%
👇 First, traders look for a sharp prior uptrend, known as the flag pole, followed by a consistent downward sloping correction. Traders also use Fibonacci retracement to qualify the ‘shape of the flag’ based on the retracement percentage. Traders should note that flag patterns are a technical analysis tool, not one for completely accurate price prediction.
What is a bear flag pattern? Unlike a bull flag pattern, a bear pattern shows traders a sharp downward price drop in a chart, followed by a gradual positive consolidation after the ‘flag pole’. It is thought of as a technique used to identify continuing downward trends in stock and commodity trading charts.
XRPUSDT
Perp
2.0665
-0.17%