Pattern found: "suck and spit" bitcoin price pattern!
Updated
Hi guys,
The past cannot predict the future but if it does, here is the pattern I spotted:
"suck in" (big green pump candles) and "spit out" (big red dump candles).
Import: To profit from this we don't enter a short yet, we use pending order that hit once the dump is confirmed. So TA is neutral for now until we have the dump confirmation.
Please leave your comments below, do you think the wait for dumpstart confirmation & exit after some dumping abit above usual levels strategy will work?
The past cannot predict the future but if it does, here is the pattern I spotted:
"suck in" (big green pump candles) and "spit out" (big red dump candles).
Import: To profit from this we don't enter a short yet, we use pending order that hit once the dump is confirmed. So TA is neutral for now until we have the dump confirmation.
Please leave your comments below, do you think the wait for dumpstart confirmation & exit after some dumping abit above usual levels strategy will work?
Note
Now you see why I recommended not opening a short position, if you trade barts (pump and dumps) these way you will lose once they turn into an even bigger pump like it happened now.Idk what to do for now, consider this idea failed for now.
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