CORRECTION: That would be a pennant (originally said bull flag). Bull flags are generally more down sloping continuation bullish formations after forming a “pole” (which this one did with the move upward) that generally break up.
This is more of a symmetrical pennant with no defined slope which could break either way. However, pennant flags generally break which ever way the trend has progressed the most in the flag. i.e if it has been riding the support more, it will most likely break down as that support weakens with being constantly tested (and vice versa with the resistance).
I am not fully convinced this uptrend is an organic bullish move quite yet and I’d argue that this one looks more bearish. You can tell because the wicks are longer on the upside when we have tested resistance while the wicks are much shorter on the support tests…but, this is crypto and you can never be too sure.
Edit 2: I’ve been fiddling with my chart and there are a number of ways you can draw this up on different timelines. This is tough. Depending on how you draw the lines, it looks slightly more bullish in some cases while slightly more bearish on others. This is a coin toss. The good news is it doesn’t really matter at these prices if you buy and it goes down…it’s not like we won’t go back up. It’s a steal of a price either way (NOT FINANCIAL ADVICE!)
Taking the wicks out all together on the 4 hour Kucoin chart, it looks more bullish to me. Why? Because we have a horizontal line of support directly under the pennant support line. That will require some nice volume to break. Solely based on this chart alone, I’m more bullish than bearish…but, this is crypto…