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Barrtop

#Bitcoin, identifying the current dominant FrantalThis looks like the current dominant pattern on Bitcoin in this market.. 1. Create swing high resistance (Buying Climax) (Red Line) 2. Break high for liquidity (Bull Trap) (Pierce Above Red Line) 3. Break recent swing low, and retest previous support area to confirm resistance before heading downwards. (Purple Line) Basically this structure creates a Barr Top, Bump & Run Top Pattern. Click the below image, read through my idea linked below for more information on how the Barr Top pattern works. ------------------------------------------------------------------------------ It is also important to note that #BTC looks similar to a Head & Shoulders Top unless it starts to move upwards from here. We need to see #BTC get back above the 42,000 USD price area with strong bullish momentum (marked as a red box), otherwise the #Crypto markets as a whole are in danger of further selling activity. This is going to be a super important week for the #Cryptocurrency markets and the traditional markets also.
Short
by Worth_The_Ri5k
3
Bitcoin Dual BARR Top Continued - Life or Death SetupBearish Confirmations in Order of Least to Most Important: 1. Price Crosses Over and Closes Hourly Below Red Line "BAR-Reversal" 2. Price Chooses to then decline more rapidly, ultimately choosing the steeper downward path 3. Angle ends up being so acute down this path that line of death is crossed 4. Line of Death is closed under on the hourly timeframe 5. Step 3, but the less acute route. Two fakeouts, less momentum into the death line test - still has decent chance of bull reversal at this point 6. Step 3, Line of Death is Crossed - Pretty much a done deal downward, may stuggle a bit 7. Step 4 - Hourly Close Below Line of Death - Signals Heavy Death Sell 7 Possible Confirmations exist. Some of these are the "same" but are nuanced because of the slightly different price action leading up to them. DUAL BARR Tops take forever, but once confirmed, have one of the lowest breakeven-failure rates amongst all known charting patterns, which means we are likely headed back down for 21k retest. -Do_Or_Swine BITBAY:BTCUSD BITBAY:BTCUSDT CRYPTOCAP:TOTAL CRYPTOCAP:ETH KRAKEN:ETHUSD
COINBASE:BTCUSDShort
by UnknownUnicorn5511258
7
Bitcoin Dual BARR Top - Bearish Setup w/ Many WhipsawsBARR tops can be seen across markets at the moment, but this is the first potential Dual BARR top that I've noticed so far. This ending is complicated and trading this is basically not worth it until it breaks out of either trendline. I'm sitting it out and then probably shorting it since 60K USD is not sustainable at this point in time. It's also not a proper hedge against inflation. -BitPigBitPig BITBAY:BTCUSD BITBAY:BTCUSDT CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 CME:BTC1!
COINBASE:BTCUSDShort
by UnknownUnicorn5511258
2
BTC BARR topWe just saw a bump and run reversal top. Looks like text book material. thepatternsite.com 1. BTC Volume profile is showing where previous price action will act as support. Also Fibonacci levels 0.5 ~30800$ and 0.618 ~37500$ line up with volume profile and price action. On the low time frames we are at critical support level at ~46400. We did make a lower low. A bounce here that makes a lower high is a continuation signal. 2. S&P500 We are starting to see positive correlation with S&P500. Fractal matches amazingly well. Volume suggests that we are seeing a sell off. We are leaving the "buy the dip territory". I don't expect to see the drop as violent as in March 2020 but it does look pretty bad. 3. DXY DXY breakout is confirmed and pumping. I expect it to go to around Fibonacci levels 0.5 ~96.7 0.618 ~97.8. Until then any bounce is a short opportunity. 4. Alt coins Expectations on alt coins is worse then BTC. I believe that everybody will sell them into BTC ETH pairs and people will cash out. BTC.D will go up and we are at critical support. 5. Invalidation Making any higher lows and higher highs on daily would invalidate this.
BITSTAMP:BTCUSDShort
by CryptoSlots777
3
Bitcoin approaches $25,000, how can we identify a potential top?First of all - let me clearly state that this is solely a EDUCATIONAL IDEA & not a short recommendation - Shorting parabolic bull markets is not recommended especially for beginners and this idea is solely to give you a understanding of what A POTENTIAL blow off top can look like. If you want to show your appreciation for the insight - then i would greatly appreciate if you give the idea a like & comment thank you! Today marks a historic day in the Cryptocurrency Markets, with Bitcoin entering a new price discovery phase breaking its $20,000 all time high. So if you have been holding your Bitcoin since the last crazy bull run congratulations! But where should you consider selling? How can you have a idea when the market is going to turn against you and head downwards? In my personal style of trading i often use chart patterns to find potential areas the market can reverse or change momentum. One of the patterns I use often is referred to as the BARR TOP. The Bump And Run Reversal Top (BARR Top) is not a well known pattern and can be hard to identify. Price has a strong uptrend off in two phases - the bump & the run, first a small increase then recovery occurs, then price increases with massive volume at a very sharp angle. Price then makes a sharp peak and comes down breaking the support line (A); the angle of this support line is usually around a 35-50 degrees. It often throws back and bearish retests off that previous support (this is the entry point, B), its common for this rejection to be at the 0.618 Fibonacci level. Back in 2017, Bitcoin ran to $20,000 then put in a Blowoff Top, but one thing not known by many also is that the 2017 Bitcoin run ended in a BARR TOP pattern! Lets have a look at Bitcoin in 2017 and how we could of traded this Bump & Run Top Pattern: As you can see the BARR TOP was a excellent sign that the Bull Run was over and Bitcoin did eventually make it to the target area. So let me give you some insight about what exactly this pattern is, how we can identify it, and what key areas the pattern can give us: IDENTIFYING THE BUMP & RUN TOP • Look for extreme upwards movement followed by sharp retrace (”run”) • Usually at a steep angle with huge volume • Almost exact in appearance of the left image • The “bump” (first phase) is usually rounded in appearance or "choppy" Log scale is to be used when identifying the pattern. The possible price targets are the important Demand Areas at the start of the pattern, if you dont know what a Demand Area is, then click on the below image for a explainer: KEY POINTS • Good success rate • Strong breakouts • Pattern not considered valid until breakout and confirmation occurs • Not as common as its mirror - the BARR Bottom (Bump & Run Bottom) • Look for 0.618 rejection to increase success So the idea is to wait for the BARR Top to be formed, if you are already in a short position then you can watch how price reacts to the diagonal trendline (A), marked on the chart at (C), we can see that once the price has multiple confirmations then the possibility of the Bump & Run Top actually failing comes into the picture. Whereas if the price breaks underneath (A) and then confirms the downtrend at (B), it can signify the potential of a strong downtrend continuation. If the downtrend breakout occurs, we can draw a measurement area from the two Swing Low (LH) points at the beginning of the BARR TOP or we can use Supply & Demand Areas to identify potential take profit or support areas. Click on the below image to understand how i use Order Zones to find these important areas: Below i have linked 3 more ideas on BARR TOPS & BARR BOTTOMS for further education, thank you!
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by Worth_The_Ri5k
70