BTC is on the way to form Bump-and-Run pattern.
Items that match pattern:
*Rising trendline - A trendline connecting the price valleys rises upward usually at 30 to 45 degrees, but this varies with scaling.(our has 26%)
*Lead-in phase - The lead-in is the section at the start of the pattern and it precedes the bump phase. Price follows a rising trendline.
*Bump phase - Price rises in the bump phase following a steeper trendline (45 to 60 degrees or higher) on high volume usually after a favorable event . Price rounds over and eventually returns to the lower, 30-degree trendline setup in the lead-in phase.
*Bump height - Measured from the peak to the 30-degree trendline, it must be at least twice the lead-in height.
*Downhill run - After price returns to the 30-degree trendline, price may bump up and form additional bumps or slide along the trendline before plunging lower in a downhill run
*Volume - High at the start of the pattern, at the bump start, and at the downward breakout (where price pierces the 30-degree trendline).
*Confirmation - The pattern confirms as a valid one when price closes below the 30-degree trendline.
Credit - Thomas N. Bulkowski
source - thepatternsite.com
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This information is not a recommendation to buy or sell.
Items that match pattern:
*Rising trendline - A trendline connecting the price valleys rises upward usually at 30 to 45 degrees, but this varies with scaling.(our has 26%)
*Lead-in phase - The lead-in is the section at the start of the pattern and it precedes the bump phase. Price follows a rising trendline.
*Bump phase - Price rises in the bump phase following a steeper trendline (45 to 60 degrees or higher) on high volume usually after a favorable event . Price rounds over and eventually returns to the lower, 30-degree trendline setup in the lead-in phase.
*Bump height - Measured from the peak to the 30-degree trendline, it must be at least twice the lead-in height.
*Downhill run - After price returns to the 30-degree trendline, price may bump up and form additional bumps or slide along the trendline before plunging lower in a downhill run
*Volume - High at the start of the pattern, at the bump start, and at the downward breakout (where price pierces the 30-degree trendline).
*Confirmation - The pattern confirms as a valid one when price closes below the 30-degree trendline.
Credit - Thomas N. Bulkowski
source - thepatternsite.com
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!! IT'S IMPORTANT.
DON'T BE TIGHT - GIVE A LIKE
This information is not a recommendation to buy or sell.
Comment:
6H chart divergence. Possible temporary price rise
Comment:
1H chart bearish flag. Possible drop in price.
Comment:
Our flag just got a bit bigger and fatter - 4H chart. All correct - shape and volume trend.
Comment:
Small flag not valid any more. Pullback to big flag.
Comment:
Let’s see how math’s works on our chart. Average price decline on Double Top Adam and Eve is 22%.
Our DT was 22%. While DT was created it developed bearish flag. Average price decline to flag is 26% - our was 36%. From flag top to bottom of formation average decline is 25% - our was 29%. We can say that Flag pattern is finished. Change in price after pattern completed - now best part - for DT is 43% up and for Flag is 40% up. Judging on stats we should expect price rise to 11000$ and that is a level of massive resistance. I have no idea if price will rise to 11000$ but this is what numbers are saying.
Our DT was 22%. While DT was created it developed bearish flag. Average price decline to flag is 26% - our was 36%. From flag top to bottom of formation average decline is 25% - our was 29%. We can say that Flag pattern is finished. Change in price after pattern completed - now best part - for DT is 43% up and for Flag is 40% up. Judging on stats we should expect price rise to 11000$ and that is a level of massive resistance. I have no idea if price will rise to 11000$ but this is what numbers are saying.
Comment:
Falling wedge is formed - just waiting for breakout.
Comment:
Touched our support line. We break it and BTC goes to short target.
Comment:
Initial move to break the wedge was strong and sudden ( which is good ) but now when we are outside of the wedge looks like BTC run out of steam. Normally we should be somewhere around 9000 but instead BTC is testing support.
Comment:
BTC in wedge going towards 9400
Comment:
Looks like trap for those who wants to go Long