Three falling peaks could win if price goes below 7.4k.. Bulls have to raise their volume to pass 7.8 without faking out.. Not an attractive trade for the bulls that got trapped several times this week Trying to bust through 8k psychological resistance..
Do you believe patterns like three falling peaks are stronger than patterns like engulfing, piercing etc?
Benjamix
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@JonathanMcBrine, The 24 / 7 nature of crypto means we rarely see these patterns you speak of... we also are dealing with many nuubz so all of the older patterns have to assessed withh new eyes to see how they rank against each other in the cryptosphere and how they perform statistically.. <<head and shoulders are pretty psychological as everyone seems to want to play them.. The big performers are pennants, ascending, descending and symmetrical triangles, broadening tops, cup and handle, flags, channels, fibs, and all the inverses of these.. diamonds work pretty good too.. The three falling peaks here if it formed would really look just like a descending triangle... At the end of the day an ascending triangle broke up... This is what we are seeing this week on many coins.. ascending triangles and symmetrical triangles echoing everywhere across many coins... Best of luck !!