Reasons to feel bullish?

Technical analysis is indicating potential for bullish action ahead

Justin
March 27, 2024

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Hey everyone,

Normally, we drop articles every Sunday, but this time, we gotta discuss some timely market moves so this article is coming out now. The premium article will come out on Sunday as normal.

So, here's the deal: the crypto markets are looking like one big trade right now. Some of the top crypto assets by market cap are showing bullish signs, forming bull flags on charts, and starting to break out.

It's a bullish look... but there are caveats. Because of that we only tend to use these signs as a way to see if the market looks strong or if it is starting to look weak.

Technical analysis chart patterns like bull flags aren't guaranteed to play out, but they do tend to occur frequently. They more highlight a possibility than guarantee an outcome.

Another thing to think about: there are some medium-term risks brewing, which we've been discussing in the premium section of the newsletter as it has come up during our review of macro, on-chain, and technical analysis.

For anyone not familiar with a bull flag, it occurs when:

A flag pole forms in the price
Then the price consolidates in a channel like the blue lines below
Then price breaks out of the channel to the upside
The target of the move after a breakout is determined by adding the height of the flag pole to the point where price breaks out