There is a possible pennant forming on H4. The pennant formation is more accurate after bouncing between the converging trendlines a minimum of 5 times. If the pennant formation holds, BTC should drop to the level shown after the breakdown. For more accuracy the measured target should be moved to the area it breaks down. (I've changed the resolution to H12 to...
A Daily Mother Inside Bar formed on the 18th may. Trading has been occurring within that mother bar. A false break up and down has already occurred. Will history repeat? One wonders now if today will see a new buy trap/false break up - (call it what you will but all examples of stop hunting) or will this be a clean break that will bring some much needed respite...
Using a simple lesson in pattern recognition to estimate trend change in BTCUSD The chart shows a clearly labelled bear flag: a structure obtained by a bearish move down separated by a period of consolidation. It's targeted move is it's pole extrapolated from the breakdown of the consolidation period. Hopefully, nothing controversial here:). But sure, if you...