Bart Simpson is back on the menuThat's something we haven't seen in a few eons huh? On the lookout for more to form...
Bartsimpson
BTC/USD BART SIMPSON'S HEAD AGAIN?!!Following the last tendency and taking into account the fact that we have touched the trendline for the third time I will place couple LONG orders with TP around $3950.
There is also a possibility of FLAG formation, so make sure that one of the patterns is confirmed.
WARNING: Ensure that you follow your risk and money management rules!
Bitcoin LONG - Bullish Divergence on 4H (Bart Simpson)BTC/USD BUY,
Talking points,
Technicals:
After the dump last week BTC is getting some momentum. We have bullish divergence wich means that bears are getting weaker, for me a strong indicator for a long on BTC.
Bart simpson pattern likely to occur.
Fundamentals:
Some Dollar weakness because of Thanksgiving US Holiday (Thursday & Friday), There is no big BTC fundamental that could trigger a bullish BTC.
Sentimental:
Lot's of traders are waiting for the big bitcoin move, very little people expected the dump of last week. Im expecting a smal correction upwards this week.
Waiting for a Bart Simpson pattern on BTC
As described in the headline I am waiting for a Bart Simpson chart pattern on BITSTAMP:BTCEUR .
I think it will last till Monday... What do you think about my speculation? Let me know - thank you guys :)
IDEA n2 BART SIMPSON PATRON exampleeXample of "BART SIMPSON" patron (inverted). Look the candles of 15 minutes and see how the price come back to the previous level. For me its a kind of bot manipulation of the price (f.e:shorts squeeze).
PS:sorry for my English, my native language is Spanish and i am an autodidact and i still learning
PS2: this post its open for discuss ideas for education purposes only about this type of patrons
Is This The End Of The Bitcoin Bull Run?Bitcoin and most of the crypto market has had a pretty decent run over the last couple of weeks, but we've reached a fork in the road: Are we finally exiting the downtrend or are bear'bears taking the 'wheel' once again?
Looking at Bitcoin from a Daily perspective there's a pretty clear triangle pattern that's formed and we're butting up right against the downtrend of the triangle. Taking a look at a four-hour chart, you'll see there is a Squeeze that has been coiling for a couple of days now. This coupled with the bull flag pattern, make me think we'll actually see this play out long. With that said, there's one pattern I've seen crush more bulls dreams than any other in crypto...the infamous "Bart Pattern" lol.
I'd never heard of this until the crypto market which is likely where it originated. In short, the pattern is a busted flag pattern like the one we have here. I made a short video you can watch here to see how it gets its name: www.instagram.com
This would be the one thing I would guard against here. Remember, like in most things price will take the path of least resistance and right now the longer trend is still down. If Bitcoin can clear the downtrend (around 7600) it will need to clear and close above the zone coming in between 7872.5 - 8059.60.
In my mind, this is basically a coin toss and I'm not ready to step in front of this freight train just yet. Remember, you can make money without catching the bottom or top, you're just trying to catch the "meat of the move."
bearish PENNEANT leads to BART SIMPSON - BEARBEARISH PENNANT taking us down the other side of a BART SIMPSON:
This bearish pennant should lead us into forming your STOCK STANDARD BART !!!
i.imgur.com
Bearish BTC possibility One more update. Looks like this Lead line on the 30 minute cloud is actually quite relevant. We may just "Bart head" down from here without any sort of boost.
BTC forming another Bart Simpson??? Ay Caramba!Bart Simpson TA is real.
No longer just a meme. Bulls, beware the Bart Simpson pattern. The spiky haired little rascal has slain many a bull.
First, he will pump you up with a big green candle. This is the start of his trickery. All seems well as his classic spiky hairdo remains steady, leaving you waiting for the next breakout from the squeeze.
Alas, this is all part of Bart Simpsons nefarious plan: He has a giant red candle hiding in his back pocket, along with that infamous slingshot.
Bart Simpson is beyond TA. Bart Simpson is life. Don't get rekt.
This if not financial advice; do your own research; I'm a plebian idiot; etc etc
The "Bart" pattern in crypto. Why they form and how to spot themI've noticed a meme develop in the crypto community around this unusual price pattern seen almost extensively in crypto currencies, characterized by its sudden rise in price, sideways movement, then sudden drop. However, from my experience similar patterns are rarely seen in higher liquidity markets like Forex.
It is possible that this pattern is sometimes created by institutional manipulation, as it is similar to the manipulation patterns pointed out by Richard Wyckoff in the stock market of the very early 1900s. The main thing to be cautious of is that the patterns are designed by manipulators to catch out retail traders, because in a low liquidity environment they have to shake retail traders out of their positions in order to fill the manipulators orders, as with limited liquidity a large order can't be made without pushing the price away from where the manipulator would like.
There are a few subtle things to look for so that you don't get caught on the wrong side of a "bart". First of all it should not be mistaken as a bull flag, a useful way to tell the difference is to think of where the liquidity pools are, and notice how the market reacts to them. A liquidity pool is where there will be a large amount of buying or selling at a level, this can also be seen in an order book, in a "Bart" (or distribution pattern) the liquidity pool will be located above the first high. Above here breakout traders will look to buy and short stops which were placed above the high will be triggered. If this liquidity pool is suddenly rejected back down multiple times this is a sign of a "stop loss hunt" and that manipulators are taking advantage of this high buying liquidity to distribute supply into the market in the form of shorts. This increase of supply will eventually push the market down. Notice that in a bull flag the selling liquidity pools are bought, and the high is left to break out.
You could try shorting using wyckoffs techniques, however the most important thing I want people to learn from this is DO NOT BUY if you see this, as the pattern is designed by manipulators to look like the perfect moment to buy for retail traders. Also, be careful not to put your stop loss in a liquidity pool, as manipulators are hunting for these.
The link below has some more in depth information on Wykoffs accumulation and distribution patterns and how to trade them.
stockcharts.com
Pesky BART & BTCFigured I'd do a little comparing here... so the strongest of the Bart Formations in the past few weeks, I went back to May 23rd just in the sense of working quickly. But it seems that these formations are 11hours in length at the shortest, and can last up to nearly a whole day.
NOW, the last 2 successive Barts, and arguably the strongest in the past weeks, were exactly 19 hours in length. Starting @0700 and ending at 0400 the next day. Coincidence? Or are the whales tweaking their algorithm to find the best windows?
$btc:usd BART example on 1HRHere we have a good example of a BART formation named thus because it looks like a bart simpson head
Giant Bart Formation BTCBTC is forming a large bart, it has tried to break 8300-8400 for a couple times but it has failed. A correction towards 7000 is due, forming a wedge.
$BTC: The time of reckoning is upon us. Please enjoy my mid term analysis for the potential paths of $BTC. I am a strong believer that patterns in nature repeat themselves even if market climate is different than it was for the 2014 crash.
We go through media trends of being berated with bad news then good news, it's polarizing. The last few days have been overwhelmingly bullish, which leads me to believe a shift is on the horizon. Currently I am leaning towards path (2), as it makes the most sense to me. It makes sense we will test our log bear trend line again, just like we did in 2014. A short term top at around $8,460 is my call. I hope I'm wrong.
If you find this analysis to be valuable, please throw me a like and a follow.
Stay safe out there.
-J
Bitcoin forecast: the downtrend is NOT overSo, where are we right now? Everyone is acting like Bitcoin is doing unpredictable things and are getting liquidated. In this market context, which is a bubble burst , we have to keep in mind a couple of things before entering trades:
What drives a bubble burst is market-psychology and an alternance between hope and fear : an alternance between FUD and FOMO.
While inexperienced traders and emotional investors who bought the top are trying to "cover their losses" or make quick and "easy" gains using heavy leverage on small timeframe trades, experienced speculative traders are using them as fuel, and making them fall for FOMO and FUD.
Shorts were at an all-time-high (which means that there are a lot of liquidations and stops to hit, this can give a huge momentum for an upward movement), we were getting dangerously close to the apex of a symmetrical-triangle, the order books were getting thinner by the minute and alt-coins have been rallying for a few days, this creates the perfect setup for a quick pump.
In the context of a bubble burst, entering short term trades with heavy leverage is very risky due to the higher than usual volatility. Most inexperienced traders with poor money management will burn their accounts during such times if they use high leverage in short term trades.
Now, what am I anticipating? I am anticipating a new wave downward a bit slower than the previous one which should hit a new low which I estimate to be around 4k8. In my opinion, we could have a trend reversal if we break the previous top around 8k8-9k (which is also where the desistance on the daily log chart is).
Obviously this should not be taken as investment advice and this is just the scenario that I'm betting on right now. A trader will NEVER have 100% accuracy, what makes you earn money on the long term is a decent risk-management, not a god-tier accuracy.
Failure of the bull flag x3Three bull flags over the past few days have broken down creating what people are calling the Bart Simpson haircut. This seams like whales manipulating the price, crushing leverage positions to bring liquidations. The next time we have a bull flag don't expect it to act like a bull flag should but also don't expect the recent history of Bart Simpson haircuts to continue for as soon as the market shows you a new pattern it will take it away.
