Bitcoin is currently in a Bump And Run Reversal Top(BARR-T) pattern after recently completing a Bullish Bump And Run Reversal Bottom(BARR-B) pattern.
This pattern was discovered by Thomas Bulkowski(credit should be given where its due) and is quite complex if you were to read the chapter on it in his book. He' all over the place on it in regards to targets and his book contradicts his website on the pattern: eg: in the book he suggests to use a logarithmic chart scale and on his site he suggests to use an arithmetic chart scale.
Anyways, I wanted to put it up there because there certainly is value in it due to performance success . Guideline/rules are provided but not set in stone and therefore allows one to be quite flexible within reason, eg: warning line & sell lines. The BARR pattern is normally applied on higher time frames such as daily, weekly, and monthly but flexibility allows for intraday time frames.
As above, so below! Bitcoin developed a BARR pattern at its recent low and at its recent high intraday. I put a few suggested price targets on the chart but typically there are two buy in and two sell out points. Once again there is no cemented target point, simply suggested flexibility points. Currently as my prior posted idea suggests my minor trend stance is now bearish.
All the best!
This pattern was discovered by Thomas Bulkowski(credit should be given where its due) and is quite complex if you were to read the chapter on it in his book. He' all over the place on it in regards to targets and his book contradicts his website on the pattern: eg: in the book he suggests to use a logarithmic chart scale and on his site he suggests to use an arithmetic chart scale.
Anyways, I wanted to put it up there because there certainly is value in it due to performance success . Guideline/rules are provided but not set in stone and therefore allows one to be quite flexible within reason, eg: warning line & sell lines. The BARR pattern is normally applied on higher time frames such as daily, weekly, and monthly but flexibility allows for intraday time frames.
As above, so below! Bitcoin developed a BARR pattern at its recent low and at its recent high intraday. I put a few suggested price targets on the chart but typically there are two buy in and two sell out points. Once again there is no cemented target point, simply suggested flexibility points. Currently as my prior posted idea suggests my minor trend stance is now bearish.
All the best!