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coinzada
Aug 8, 2019 3:34 PM

3 Peaks and a Domed House Pattern Could Take Btc to $5200-$500. Short

Bitcoin / United States DollarCoinbase

Description

The "three peaks and a domed house" pattern was identified by George Lindsay nearly 70 years ago.

The pattern can be identified by a parabolic move up followed by a period of consolidation with three peaks.

The three peaks are followed by a drop to previous support levels, a dead cat bounce, and finally the final drop to the general vicinity of the start of the pattern.

What follows is a period of consolidation (in this case, we'd be filling in a large volume gap between $5250 and $7500) and then an explosive move to a new high.

Comment

My apologies, I realized after publishing I did a poor job of drawing this to scale. I would expect the initial drop to happen some time in August and the consolidation to end sometime near the end of October or Early November.
Comments
angelsmfg
Have you really studied this? I have a different picture of this
cryptok33p3r
Where is the domed house? Looks like we're half way through the third peak.. which would mean that the next move is upwards after the drop down to the 23rd august.
coinzada
@cryptok33p3r, The domed house comes after the next move up. thepatternsite.com/3peaksdome.html
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