I think we'll revisit this chart formation again: the burmese bridge, representing a standoff between buyer and seller, a virtual siege where no one wants to move, until a real move breaks out. It's tough to call once the RSI
crashes, and signals a buy. You must rely upon your fundamental analysis
(non technical) to gauge whether you should enter. If you buy before the dip, you're out of the next action. If you fail to foresee a big uptick, you are also priced out of a predictable run-up.
If you are ready to stay out of a dip or break, you can set up a series of wonderful grabs, based on the lows. These are easy to read and can represent epic gains. When BTC
falls, the real feast begins. Reading bridges like this, to avail yourself, not so easy.
I will be posting more notes on the totally epic bridge patterns (what I call standoffs) that show up in BTC
recently, and represent the most important moments in BTC