BitcoinUpdated BARR Suggests Potential Bitcoin Collapse To $38k
Following my prior idea on a Potential Massive Bitcoin Expanded Flat Correction Around 
4K:
I thought this idea to be interesting enough to share with the general public. It's referred to as the Bump-and-Run Reversal Top. The pattern was discovered by Thomas Bulkowski in 1996.
What is even more fascinating is the fact that aside from the author's pattern website giving a thorough description along with guidelines & tips, it also provides an example of a Bump-and-Run Reversal Top using a chart that also has an outlined "Triangular Top"(Shabacker description of TTR's/Triangular Top Reversals).
What are the odds of that "synchronicity" just being happenstance?
Wait, to push this synchronicity recognition a little further, what are the odds that the year that the chart example given on the site would have the same vibration as the current one at the time of my idea being presented to you today? Look at the date inscribed on the author's chart on the author's website. 2006 =8 & 2024 =8.
BARR pattern. A supposed Triangular Top and the vibration 8. Happenstance or synchronicity? I'll let you decide..... But before you do,
Quote:
"Psychiatrist Carl Jung had a term for meaningful coincidences: synchronicity. He wasn't just talking about interesting surprises, like getting a lottery number that matches your birth date. Synchronicity is what happens when seemingly unrelated events coincide in improbable ways that have some sort of significance for you. Jung believed synchronicities were evidence of a unifying consciousness at play in the universe, creating physical manifestations of what's happening in our psyche. We can use these synchronicities to better understand ourselves"
Back to the idea. The bold black trend lines are the BARR pattern. The red diagonal lines are 'lead-in' channels/Sell Lines placed according to the measure rule.
A(The start of the pattern) being the target, would suggest approximately $38,5ish where I drew the black dashed horizontal line on the chart.
As for the potential symmetrical triangle that was first perceived to be, whether one still wants to believe such a pattern ever was, price would be considered to be at the undershoot point at the time of this writing. That undershoot point would also be the 'Run' phase in the BARR pattern. Typically a cascading effect tends to follow.
One could also apply a Donchian Channel to the chart and or Trader Vic's 1-2-3 method.
In my humble opinion..............
4K:I thought this idea to be interesting enough to share with the general public. It's referred to as the Bump-and-Run Reversal Top. The pattern was discovered by Thomas Bulkowski in 1996.
What is even more fascinating is the fact that aside from the author's pattern website giving a thorough description along with guidelines & tips, it also provides an example of a Bump-and-Run Reversal Top using a chart that also has an outlined "Triangular Top"(Shabacker description of TTR's/Triangular Top Reversals).
What are the odds of that "synchronicity" just being happenstance?
Wait, to push this synchronicity recognition a little further, what are the odds that the year that the chart example given on the site would have the same vibration as the current one at the time of my idea being presented to you today? Look at the date inscribed on the author's chart on the author's website. 2006 =8 & 2024 =8.
BARR pattern. A supposed Triangular Top and the vibration 8. Happenstance or synchronicity? I'll let you decide..... But before you do,
Quote:
"Psychiatrist Carl Jung had a term for meaningful coincidences: synchronicity. He wasn't just talking about interesting surprises, like getting a lottery number that matches your birth date. Synchronicity is what happens when seemingly unrelated events coincide in improbable ways that have some sort of significance for you. Jung believed synchronicities were evidence of a unifying consciousness at play in the universe, creating physical manifestations of what's happening in our psyche. We can use these synchronicities to better understand ourselves"
Back to the idea. The bold black trend lines are the BARR pattern. The red diagonal lines are 'lead-in' channels/Sell Lines placed according to the measure rule.
A(The start of the pattern) being the target, would suggest approximately $38,5ish where I drew the black dashed horizontal line on the chart.
As for the potential symmetrical triangle that was first perceived to be, whether one still wants to believe such a pattern ever was, price would be considered to be at the undershoot point at the time of this writing. That undershoot point would also be the 'Run' phase in the BARR pattern. Typically a cascading effect tends to follow.
One could also apply a Donchian Channel to the chart and or Trader Vic's 1-2-3 method.
In my humble opinion..............
Note
At this juncture false breakouts tend to occur.I took the liberty to add a potential alternate count labeled as a potential flat, Wave C being equal to wave A in distance(measured move). Technically price did breach prior support and would be in the midst of activating a 1-2-3 method due to being in the midst of breaking beneath point 2.
I'm paying attention to the volume on this particular break. So far there doesn't appear to be much of it which adds suspicion to the authenticity of this breakout along oversold signals intraday. It could be a bear trap. That said, the uptrend has snapped per the lead-in trend line price breach until proven otherwise, in my humble opinion...........
Be Vigilant!
Updated chart posted below.
Note
Update on a completed mini intraday BARR bottom pattern that had developed yesterday while failing the bearish breakout has been posted below for your entertainment, in my humble opinion.Note
Update: A little Heads up on sentiment. I had mentioned that a H&S Top had appeared to have formed in a prior idea.Using the Crypto Fear & Greed Index graph on alternative.me on a 1 year setting.
From the low reading on January 24 2024 at 48 up to the high reading of 90 on March 5 2024 an EW cycle appeared to have completed. The following drop from 90 to 75 on March 6 formed the next trough to draw the neckline diagonally from the February low 72 reading, extended to the right is where it got tested on March 27 at a reading of 83 once it broke down the NL after forming the right shoulder on March 14 at a reading of 88. The projected target was estimated to be at an approximate reading of 58. Yesterday's sentiment reading dropped to 57 from 67 and bounced to a current reading of 66. Therefore the head & shoulders pattern call's target has been reached. Speaking of H&S's, I posted an update down below earlier.
In my humble opinion............
Note
Updated chart below.Note
Another updated chart has been posted below.Note
Heikin-Ashi Chart update on daily time frame below.Note
Here's another update on a smaller time frame . Chart posted below.Note
Update posted below. C&H breakout failed to hold and became a bull trap, in my humble opinion.......Note
Updated twice below.Note
Another update has been posted below. It's a simple heads up based on a particular candlestick pattern. Then I think I'll stop updating here because the thread is becoming long.
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