[BTCUSDT] 3 Poor Performing Patterns + Historical Data

I have identified 3 patterns that could potentially be bullish. The the flip side is that they are poor performing. Meaning that once they breakout, the potential for them to be catalyst for a continued move up is not that great. This is based off the information published on thepatternsite.com, which I will post links for below. The targets are calculated from the percentage meeting price found on the site. They just so happen to almost match up with Fib extension levels.

Falling Wedge (yellow)
thepatternsite.com/fallwedge.html

Descending Triangle (green)
thepatternsite.com/dt.html

Symmetrical Triangle (blue)
thepatternsite.com/st.html

Also, there is a holiday coming up, which Bitcoin seems to react similarly to throughout the years. If you take a look back at the past Good Fridays from 2018 to 2022, you will see that the price of Bitcoin peaked out on that day and had a considerable price reversal for days after, before reaching a reversal point to make a move back up to where it began its fall.

4/15/2022-4/18/2022: Price dropped 52% before reversing back up

4/2/2021-4/7/2021: Price dropped 7% before reversing back up

4/10/2020-4/16/2020: Price dropped 10% before reversing back up

4/19/2019-4/21/2019: Price dropped 2% before reversing back up

3/30/2018-4/1/2018: Price dropped 11% before reversing back up

تعليق:

Correction:

4/15/22-4/18/202: Price fell 5% before reversing back up.

*It did fall 52% soon after

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Accumulation pattern identified on smaller time frames. Looks like BTC is ready to move up!

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Accumulation on bigger timeframe.

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Accumulation is turning out to be redistribution. The falling wedge, which has a 38% success rate of being bullish failed to play out. There is still an opportunity for the others to happen. The symmetrical triangle and descending triangle have a higher percentage at around 53%. Overall I'm bearish, but spikes and liquidity grabs happen far too often. Currently, I am seeing a potential bearish pennant forming which could have a target around 27 ,555. From there I will be looking out for a potential test to the upper resistance levels