[Tj] Double Bottom and Batty Gartley and patterns to follow
Updated
Hi, everyone.
As I illustrated in previous posts about possible double bottom, the price range is getting close to $6,000.
Just this morning we were at about $6,500 ish. and from there we saw a small leap towards $ 7,200 area.
There is a high possibility this will turn out to be a bull trap.
there were few bull traps confusing investors whether or not to buy.
Indeed, many of them (including the people I know) fallen for it and now suffering from the loss (even tho it's not THAT significant)
As of now I believe there are two most-likely-to-happen scenarios.
A) of course, the double bottom at $ 6,000
B) Finishing off the bullish Bat
hopefully, either way we could expect some gains over the few weeks.
After Completing the scenario A and B there could be a great leap towards the ceiling of the current (TBD) rising channel, which could lead to possible inverse head and shoulder pattern.
the head and shoulder on my chart could be followed by the double bottom.
Beginning last week, there were a consistent increase in volume which also support either of the scenarios.
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As I illustrated in previous posts about possible double bottom, the price range is getting close to $6,000.
Just this morning we were at about $6,500 ish. and from there we saw a small leap towards $ 7,200 area.
There is a high possibility this will turn out to be a bull trap.
there were few bull traps confusing investors whether or not to buy.
Indeed, many of them (including the people I know) fallen for it and now suffering from the loss (even tho it's not THAT significant)
As of now I believe there are two most-likely-to-happen scenarios.
A) of course, the double bottom at $ 6,000
B) Finishing off the bullish Bat
hopefully, either way we could expect some gains over the few weeks.
After Completing the scenario A and B there could be a great leap towards the ceiling of the current (TBD) rising channel, which could lead to possible inverse head and shoulder pattern.
the head and shoulder on my chart could be followed by the double bottom.
Beginning last week, there were a consistent increase in volume which also support either of the scenarios.
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Note
Note
this is when the head completes near $ 6,500 area. Don't mind comments in Korean. it's only a translation of what you read.Note
Note
Take a closer look at the volume.Note
Note
Note
Note
Note
Note
Inverse Head and shoulder observed.possible break out in about 12 hours.
this pattern will complete,
ONLY IF volume increase significantly.
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