Hello fellow chartists,
like the one here, diamond pattern within timeframes greater or equal to one hour worked very well on BTC in the past.
This one is quite hard to spot because it is pretty tiled, but this doesn't affect its significance.
For diamond tops the likelihood of an downward breakout is around 57% according to Thomas Bulkowski's Pattern statistic.
You can check the pattern's characteristics and data here: thepatternsite.com/diamondt.html
Besides the pattern itself a correction after such a surge is still imminent.
Notice that I have used a spread symbol for averaging BTC's price among three well known and trustworthy exchanges to obtain more normalized data.
Let me know if you deem this is gonna play out as projected
Trade save
Nik
like the one here, diamond pattern within timeframes greater or equal to one hour worked very well on BTC in the past.
This one is quite hard to spot because it is pretty tiled, but this doesn't affect its significance.
For diamond tops the likelihood of an downward breakout is around 57% according to Thomas Bulkowski's Pattern statistic.
You can check the pattern's characteristics and data here: thepatternsite.com/diamondt.html
Besides the pattern itself a correction after such a surge is still imminent.
Notice that I have used a spread symbol for averaging BTC's price among three well known and trustworthy exchanges to obtain more normalized data.
Let me know if you deem this is gonna play out as projected
Trade save
Nik
