BitcoinLong
BTC Diamond Bottom (13.7%)
BTCUSD diamond bottom in play at the moment.Details below from thepatternsite, and satisfying many of the required conditions.
First target: 7020
Second target: 7260
"Touches:
Prices will touch each trendline once or twice. Don't worry if your lines cross some of the price outliers."
"Volume trend:
Downward trend 67% of the time."
"Breakout:
Upward 72% of the time, when price closes outside one of the trendline boundaries."
"Price trend:
Diamonds with short-term (less than three months) or intermediate-term (three to six months) price trends leading to the diamond perform best, depending on market condition and breakout direction."
"Price velocity:
High velocity moves after the pattern often follow high velocity moves leading to the pattern."
"Yearly low:
For best performance, diamonds with breakouts within a third of the yearly low perform best."
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