Hello traders!
This is a detailed and most importantly a correct analysis of the previous pump and dump.
There is always a reason behind everything and there is also a reason behind this whole formation. There is a complete cycle that forms before this formation and this formation is a reaction of that cycle.
Let's talk about this formation
After a deep search, I have figured out that the market never leaves any Support/Resistance untested and if it happens then we will see this type of formation and when the formation is completed we will see the market will move back to that untested Support/Resistance.
(Tip 1: You can trade every breakout but on the opposite side of breakout because the market always show retracement after the breakout)
At the start of this Formation the time the first pattern we see is a 'J' pattern.
Now, what is the J pattern?
'J' pattern is itself a reversal pattern only if it is formed above the support area but in this case, 'J' pattern is not connected with the support area so it kept pushing up.
The Next pattern after J is a correction/consolidation pattern and in total, we will see 3 consolidation/correction patterns in this formation.
(Tip 2: After every breakout there is a reaction pattern and 5 out of six times market moves back after a breakout so follow tip#1)
After the 'J' pattern the second pattern is an Expanding triangle and if you are aware of this pattern then I must tell you that you were always taught wrong because you must be taught that trade towards the direction of the breakout and it's a wrong way. As I told you 5 out 6 times market moves back after breakout and you can see the charts yourself. So trying your luck on 5 out of 6 probability is better than trying your luck on 1 out of 6 probability.
(Tip # 3 is don't be fooled and follow tip # 1 and always use stop-loss to save yourself from unwanted loss and save your account for new trades)
The third and final pattern is a correction breakout without any reaction pattern and this is a pattern that pushed the Bitcoin back to the pavilion.
Happy new year guys and I hope you will make millions in the year 2022.
Don't forget to hit the like button and follow to stay connected.
This is a detailed and most importantly a correct analysis of the previous pump and dump.
There is always a reason behind everything and there is also a reason behind this whole formation. There is a complete cycle that forms before this formation and this formation is a reaction of that cycle.
Let's talk about this formation
After a deep search, I have figured out that the market never leaves any Support/Resistance untested and if it happens then we will see this type of formation and when the formation is completed we will see the market will move back to that untested Support/Resistance.
(Tip 1: You can trade every breakout but on the opposite side of breakout because the market always show retracement after the breakout)
At the start of this Formation the time the first pattern we see is a 'J' pattern.
Now, what is the J pattern?
'J' pattern is itself a reversal pattern only if it is formed above the support area but in this case, 'J' pattern is not connected with the support area so it kept pushing up.
The Next pattern after J is a correction/consolidation pattern and in total, we will see 3 consolidation/correction patterns in this formation.
(Tip 2: After every breakout there is a reaction pattern and 5 out of six times market moves back after a breakout so follow tip#1)
After the 'J' pattern the second pattern is an Expanding triangle and if you are aware of this pattern then I must tell you that you were always taught wrong because you must be taught that trade towards the direction of the breakout and it's a wrong way. As I told you 5 out 6 times market moves back after breakout and you can see the charts yourself. So trying your luck on 5 out of 6 probability is better than trying your luck on 1 out of 6 probability.
(Tip # 3 is don't be fooled and follow tip # 1 and always use stop-loss to save yourself from unwanted loss and save your account for new trades)
The third and final pattern is a correction breakout without any reaction pattern and this is a pattern that pushed the Bitcoin back to the pavilion.
Happy new year guys and I hope you will make millions in the year 2022.
Don't forget to hit the like button and follow to stay connected.