What is a Bear Flag?

As mentioned earlier, the bear flag is a bearish continuation pattern. The first step in identifying the bear flag is to look for a downtrend. Next, the rebound should take place within an ascending channel, while we monitor the degree of the correction.

What is a bearish flag & how does it work?

The bearish flag is a candlestick chart pattern that signals the extension of the downtrend once the temporary pause is finished. As a continuation pattern, the bear flag helps sellers to push the price action further lower.

What are the benefits of a Bear Flag pattern?

The following are the primary benefits of the bear flag pattern: Bear flag patterns are versatile and may be employed in any market, including cryptocurrencies. When trading Bitcoin or altcoins, the pattern can be identified on various time frames, including H15, H30, H1, H4, and D1. Day traders and swing traders alike appreciate this pattern.

Is a Bear Flag a trend continuation pattern?

As a trend continuation pattern, the bear flag chart is considered a trend continuation pattern. The price pattern will first trend downward until a new support level is established. This is when the flag manifests itself as an upward consolidation channel.