بتكوينشراء
Potential Wedge and Bump and Run Reversal Fractal Developing
تم تحديثه
After the April Fools Pump earlier this year the Bump and Run Reversal was tweeted out by an analysis and it quickly took over crypto media (Tradingview, twitter, youtube, etc) and after about a week, the fad was over and people mostly went on with their short term TA.
I am beginning to see the potential for a fractal Wedge to BARR formation which could lead to a double top on Bitcoin around $14,000
Most of us should know what a falling wedge is at this point. They generally perform some 60 to 70 percent of the height of wedge from the point of break out, or the target is the top of the wedge.
The target of a BARR is a bit more complicated. The triangles are the lead in of the Bump and Run, and the resistance of that triangle creates the trend line we are interested in as the height from the bottom of the bump to the trend line creates the target length.
You then take the target length and put it to the point of break out of the lead in trend line and that gets you the full BARR target. The intermediate BARR target is the height of the lead-in. This is the key thing, the trend line has to be tested as support for this to be a BARR
BARRs can still become a busted formation, just like any formation. The Intermediate BARR formation is where you take profit if you don't see enough volume for your liking, or the move isn't as impulsive enough.
The final option is this wedge/BARR is just part of a flagpole formation, which means we would need the full performance of that, which is close to $18,500
I am not willing to go full bull just yet. We could be set up for a double top at $14,000 within this peak, or we could be in a double top between here and $18,000. When we get to these levels we will need to look at the rest of the indicators to see what is going on, is there hidden or classic bearish divergence? Do we have a retrace with bullish divergence?
But all of this is secondary. I don't margin trade without a structure with the proper back up with indicators. We look ok right now, so long as we get a good retest of the lead in trend line. The bounce of the wedge makes a lot of sense. The big wedge bounced off the 200w, this one is bouncing off the 100w, as shown by the programmable moving averages.
But you will not see me "moon posting" until we set a higher high. Nothing about this post means I think we have fully entered a bull market. We nee a higher high for that. Until then, this is just a rally in a bear market, a bear trap, etc. Hell, this may still be a thrown back to the Descending Triangle that caused this dump.
I am beginning to see the potential for a fractal Wedge to BARR formation which could lead to a double top on Bitcoin around $14,000
Most of us should know what a falling wedge is at this point. They generally perform some 60 to 70 percent of the height of wedge from the point of break out, or the target is the top of the wedge.
The target of a BARR is a bit more complicated. The triangles are the lead in of the Bump and Run, and the resistance of that triangle creates the trend line we are interested in as the height from the bottom of the bump to the trend line creates the target length.
You then take the target length and put it to the point of break out of the lead in trend line and that gets you the full BARR target. The intermediate BARR target is the height of the lead-in. This is the key thing, the trend line has to be tested as support for this to be a BARR
BARRs can still become a busted formation, just like any formation. The Intermediate BARR formation is where you take profit if you don't see enough volume for your liking, or the move isn't as impulsive enough.
The final option is this wedge/BARR is just part of a flagpole formation, which means we would need the full performance of that, which is close to $18,500
I am not willing to go full bull just yet. We could be set up for a double top at $14,000 within this peak, or we could be in a double top between here and $18,000. When we get to these levels we will need to look at the rest of the indicators to see what is going on, is there hidden or classic bearish divergence? Do we have a retrace with bullish divergence?
But all of this is secondary. I don't margin trade without a structure with the proper back up with indicators. We look ok right now, so long as we get a good retest of the lead in trend line. The bounce of the wedge makes a lot of sense. The big wedge bounced off the 200w, this one is bouncing off the 100w, as shown by the programmable moving averages.
But you will not see me "moon posting" until we set a higher high. Nothing about this post means I think we have fully entered a bull market. We nee a higher high for that. Until then, this is just a rally in a bear market, a bear trap, etc. Hell, this may still be a thrown back to the Descending Triangle that caused this dump.
ملاحظة
This also isn't promising for the bears. If we don't mount the 20w trendline, nor the lead in resistance trendline this just gets a whole lot of people BTFO'd.
I can feel their pain, but I cannot feel sorry for them.
ملاحظة
If this BARR bottom busts it will because there is a BARR top reversal going on. Remember, whenever you see something with a parabolic move terminate you should be looking for a BARR formation, either as a top or as a bottom.
thepatternsite.com/barrt.html
ملاحظة
This Bump and run is about 95% confirmed at this point. There is still a chance it will continue to creep down the lead in trend line but this looks dangerously close to performing. We don't have the same amount of shorts available on BTCUSD so I I don't see the money coming from there, but the longs against ETH, XRP, LTC, etc could provide the rocket fuel for BTCUSD to go up.
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