BTC: Same Pattern Once Again

BTC paints a picture we have already seen. The bottom of the bear market came in at ~3.2k almost one year ago, but after that ultimate low we consolidated and formed Adam & Eve Pattern, which we broke out of in April and reached its target. Pay attention to that wick to the upside marked with a red arrow

The second Adam & Eve Pattern occurred this summer. Once we broke the resistance, the target was successfully reached. Notice that the target was right at the downward channel resistance and we perfectly reached it and got rejected there.

Now let's take a look at the current one. The same Adam & Eve, the same nasty wick to the upside like during the formation of the first A&E Pattern one year ago, and notice where the target leads us IF we break above the resistance - the same downward channel resistance! (In addition, EMA200 is very close to it)
So, the current Adam & Eve Pattern looks like a combination of the previous two: we have a long wick right into resistance and the move to the upside, in case this pattern succeeds, is limited by the downward channel resistance. If the history repeats, we are to break above the resistance (neckline), meet the target at EMA200 and get rejected there. Does it have to act that way? Of course not, but this pattern is definitely something to keep an eye on.


What do you think about it? Give us your opinion in the comments!


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