Bitcoin Strategy: Cup & Handle, Flag Pole, Parallel Channel

If you're aiming to maximize gains using multiple setups across different timeframes, this strategy combines three powerful patterns: the Weekly Cup & Handle, Flag Pole, and Daily Parallel Channel. Here’s how to execute this structured approach for optimal entry, exit, and profit potential.


Weekly Cup & Handle

• Timeframe: November 15, 2021 – October 14, 2024
  
• Breakout: Achieved on October 14, 2024
  
• Target: 82,000 (same as the Flag Pole)
  

The breakout from this long-term Cup & Handle pattern suggests strong bullish momentum and a solid foundation for long-term gains. This setup aligns with the target and stop-loss criteria from the Flag Pole pattern for a consistent strategy.

Weekly Flag Pole Pattern

• Timeframe: October 16, 2023 – March 11, 2024
  
• Target: 1 lakh
  
• Stop Loss (SL): 66,000 (below the last swing low)
  

The weekly Flag Pole pattern reinforces the Cup & Handle trend, providing a shorter-term opportunity within the larger uptrend. Enter in tranches to capture initial momentum and add on pullbacks.

Daily Parallel Channel

• Timeframe: March 5, 2024 – October 18, 2024
  
• Breakout: October 18, 2024 (retest completed)
  

The breakout and retest of the daily Parallel Channel on October 18 offer a shorter-term entry point. Targeting 1 lakh on this setup aligns with the long-term patterns, with Target 1 at 82,000 and Target 2 at 1 lakh.

Execution Strategy

• Enter in Tranches: Start your position now and add on each pullback.
  
• Confirm Pullbacks: Look for a reversal on the daily candlestick pattern after each pullback.
  
• Manage Risk: Keep the SL at 66,000, set below the last swing low, to protect your capital.
  

Summary of Targets

• Target 1: 82,000 (aligned with Cup & Handle and Flag Pole)
  
• Target 2: 1 lakh (Parallel Channel breakout)
  

By combining these setups, you capture both long-term and short-term price movements, maximizing your potential for profit while managing risk effectively.