I have been looking for Bump and Run Reversals, either tops or bottoms for a while now. I have been hesitant to post this one on account of how extreme this is, and how at odds it is with the bullish BARR I was seeing on BTCUSD.
If you look at the link below you will see everything is in order. Our lead in took a couple of months to develop, we had a move that lead to us going upward a few multiples from the base of our lead in base, and now the lead in trend line is being firmly established as resistance when once it was support.
thepatternsite.com/barrt.html
We had some competing structures at play, such as the falling wedge that many of us have been looking at. And falling wedges are great formations for predicting the end of bear markets that last perhaps a year or more. They are not that great as positioned here
thepatternsite.com/fallwedge.html.
There is also that descending triangle which looks on the verge of performing in blue. These are also not great formations, but given it is positioned right where we would expect a bearish structure because of the BARR, I would expect a massive over-performance.
The target at about $42 comes from the last test of the lead in trend line and is based off of 78% of the height of the parabolic move to the trend line. Full performance buts us close to zero.
A quick look at the VPVR shows there is a node way down there and some consolidation activity. Absolutely dreadful. We won't go straight down as we will have relief rallies and the like, but eventually we are getting close to $40.
If you look at the link below you will see everything is in order. Our lead in took a couple of months to develop, we had a move that lead to us going upward a few multiples from the base of our lead in base, and now the lead in trend line is being firmly established as resistance when once it was support.
thepatternsite.com/barrt.html
We had some competing structures at play, such as the falling wedge that many of us have been looking at. And falling wedges are great formations for predicting the end of bear markets that last perhaps a year or more. They are not that great as positioned here
thepatternsite.com/fallwedge.html.
There is also that descending triangle which looks on the verge of performing in blue. These are also not great formations, but given it is positioned right where we would expect a bearish structure because of the BARR, I would expect a massive over-performance.
The target at about $42 comes from the last test of the lead in trend line and is based off of 78% of the height of the parabolic move to the trend line. Full performance buts us close to zero.
A quick look at the VPVR shows there is a node way down there and some consolidation activity. Absolutely dreadful. We won't go straight down as we will have relief rallies and the like, but eventually we are getting close to $40.
Trade closed: target reached:
I have to admit I messed up the TA on this post as the target rule for BARR top is not the same for BARR bottoms. This comment shows that the target for the BARR top was reached with some slight over-performance. Please see the chart below for a bullish update.
I have to admit I messed up the TA on this post as the target rule for BARR top is not the same for BARR bottoms. This comment shows that the target for the BARR top was reached with some slight over-performance. Please see the chart below for a bullish update.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion