BTC Bart Pattern Trading Possibly the best way to spot it?
The first green candle is met with great price action and , hence the spike. However, that price action is not backed by and gradually gets exhausted, hence usually falling back to the 0 line. This creates a divergence since the price usually stays sideways or goes up, while EFI shows lower and lower .
Finally, to see if the next cycle of bart pattern would come next, checking whether EFI shows or not may be an indicator.
So far, the last few bart simpsons (or at least those initial large green candle waves) seem to be following the similar moves on EFI .
It's late now, so tomorrow I will go back to the past and dig up other example of Bart simpsons and see how valid this may be as an indicator.
Now that we have dropped, now we look for possible bullish divergences.
Looking at past examples, right now we have to show strength to be able to penetrate 0 line. If we do not, we may see a sharp drop.
This may be another fractal we may follow.