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Bart

Bitcoin Update 30.10.2023Bitcoin seems to be at a critical point. I think two scenarios emerge here. If Bitcoin closes hourly candles above $35,000, it will open a bull flag and therefore has the potential to run up to $38,000. However, if Bitcoin is rejected at $35,000, it will retreat to $33,700, and hourly candle closes below this support level will create a Bart pattern, pulling Bitcoin down to $31,000. Since it doesn't matter what I feel or don't feel and the only thing that matters is the critical $35,000 resistance, I think this level should be carefully monitored.
INDEX:BTCUSD
by YavuzAkbay
1
The BTC Bart Sucks - We have better things to do with our timeDid you have been there the BART (Simpson pattern) of course bitcoin isn't new to the game on this pattern, probably as old as time itself (not scientific, don't sweat me chart champions :) ... ultimately it's the "Gartley Classic 22" pattern.. You end back where you started... if I wasn't trading with sinful amounts of leverage I wouldn't care at all.. (really care with leverage either-- other than I have to pay constant focused attention to what's happening)
FTX:BTCUSD
by Joseph_MG
Bitcoin Bart Simpson formation patternIn crypto, the Bart Simpson formation, or just Bart, is a short-term chart pattern. In a Bart formation, the cryptocurrency market rallies sharply, usually on a shorter timeframe like 30M, and after a period of flat (sideways) action retraces all of its previous gains. The name Bart came from the pattern’s likeness to the shape of Bart Simpson’s head. On bitcoin markets, the Bart shows up only after long periods of sideways. In those times the volumes decline and not much is happening on the markets. The idea behind the Bart pattern is that there was an attempt to start a run-up in the market. It could have been done by a single actor or by means of organic uncoordinated speculation, that doesn’t really matter. The important information is that this attempt did not catch on. Bart is a signal of relative weakness on the market: The speculation is trying to get ahead of the market. Bart pattern is always a “failed attempt” at something: Either a failed attempt at starting a run-up after a sideways period, or a failed attempt at building a bottom after a down trend. Quite typically, crypto markets will show bart patterns at the end of a channel or triangle formation that has been in the making for a few weeks. Ends of triangular formations are in particular a good place to spot bart formations, because the volume there is getting lower - a lot of traders go to the sidelines, waiting for a decisive move. Remember that Bart is a failed attempt at starting a run-up. There was some follow through, but not enough yet. The market needs to build up the momentum a little longer, and in the meantime a fundamental event can happen that changes everything … In other words, there is no way to time the market from the presence of Bart patterns alone. However, it does show some early confidence on the market. So, those are the options: If the market is failing to establish bottom, it is too early to be bullish. You may have better odds in short-term short positions, but you need to consider other technical analysis, such as support and resistance lines. It is a super bad time to speculate with futures or any other time-limited contracts. With plain leverage though, the story is different. You could use contracts like the Bitmex perpetual swap to try and catch longing the next Bart. Shorting it is more risky if the overall structure of the market looks like slowly setting up for a run-up. If there is a Bart on the hourly charts but you are normally looking at the D and W charts and your opinion there is bullish, you could buy spot for the mid- to long-term.
by cryptoTradingAnalytics
7
ATH Retest Prediction: December 15th Pimento of the OliveLeaving this idea neutral as it is just a prediction, I have had this crazy idea for awhile now ever since BTC had its bear market low (AKA swing low) on December 15th of 2018. That was when I realized at the same time that December 15th 2017 was The last ATH high (AKA Swing High) as well. What if the next swing high is also on December 15h how wild would that be I thought. I originally anticipated the next swing High / ATH Retest might synchronitiously occur on December 15th of 2019.....it wasn't until around June of 2019 that I realized it wasn't gonna happen in 2018 and switched my projection to December 15th of this year. I've been watching in amazement the past few months as BTC has finally found the pendulum's momentum shifting back in it's favor now and has come very very close to retesting the ATH already on December 1st. In fact, it came so close to retesting the ATH... on several exchanges it did indeed cross above the ATH for those specific exchanges...however, The real all time high is 20k which was hit on Gemini during the last bull run ( and is also why I am doing TA currently on the Gemini exchange chart). If we wanted to be technical about it, BTC already reached a new ath a few months back in countries where there is already massive hyperinflation (Turkey, Brazil, Venezuela etc) but I wasn't including those outliers when I made my December 15th prediction. It's sad to see countries ravaged by such hyper inflation but so far I've been thinking what has happened there has made an extremely reliable precursor for what the price action would soon start to do in every other country as well. They will likely continue to be good indicators of what the price will soon reach everywhere else. Anyways I'm really astounded at how the closer and closer we get to December 15th the realer and realer my prediction comes to being validated here as you can see i tried to draw a bulls eye right on the spot where the ATH horizontal trendline at 20k reaches December 15h 2020...however the bullseye looks more like a pimento stuffed olive so in stead of a bulls eye we're going to call it a pimento. My guess is we are potentially in a falling wedge that will break out just in time to bounce back up and actually test 20k this next time before some form of media FUD occurs that coincides with the price simultaneously being rejected down hard from the 20k horizontal creating a bart that soon turns into a head and shoulders pattern that sends us down for our first real correction of the bull market. If we're lucky after a parabolic explosion like we've had all year we will get a 30-42% correction before the next big leg up....if we're really lucky we could get a 50-60% correction but not nearly as probable. Of course, we could still continue up from here as well...we don't have to start forming a gigantic handle of a monthly chart potential cup and handle pattern. We still have a monthly symmetrical triangle and a double bottom pattern in play that can both take us to super high price levels...so we could totally just continue up from here...but somehow I have a feeling we may see another cup and handle and we may want to pull back the arrow here to ensure we shoot far higher than we would if we just kept going up from here. NOT FINANCIAL ADVICE but for my opinion just follow the purple line. Thanks for reading.
GEMINI:BTCUSD
by DrDovetail
2