BTC & ETH still showing bullish signs, Learning the BARR Bottom The BARR Bottom is one of the most reliable Chart Patterns out there and signifies a fast moving reversal after a strong sell off.
The price has a small lead in phase referred to as the "bump" then a strong sell off, which leads into a almost hook shaped or J shaped reversal upwards, the price should create a downwards sloping angle of 30-50 degrees, this pattern usually precedes fast moving bullish trends, and the mirror of the pattern the Bump & Run Top (BARR TOP) usually precedes fast moving bear trends.
The appearance of this pattern gives us a sign that there is strong buying momentum
• The “bump” (first phase) is usually rounded or choppy in appearance
• Look for extreme downwards movement followed by sharp retrace (”run”)
• Usually at a steep angle with huge volume
• Almost exact in appearance of the image provided
Until we get a confirmed close underneath the support below, it is probable that Bitcoin & Ethereum both push towards the top of the Structure for a potential breakout.
More Examples are linked below and here:
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