Bitcoin Dual BARR Top - Bearish Setup w/ Many Whipsaws
Updated
BARR 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
TOTALTOTAL2
BTC1!
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
TOTALTOTAL2BTC1!Trade active
Nevermind.. i think the better part of the entire Nasdaq is showing the same pattern - its just extremely complicated even compared with BTC. Here's AMZN chart that is probably not labeled quite right, but the basic picture is there.It would explain the insanely long horizontal action for so many months as well.
Trade active
Recommend selling here.Trade active
Next BTC Targets:Trade active
Terminal Pattern Seems to Be Confirmed by two false "e wave" breakouts in either triangle. Short setup is about as good as it gets here, cover above 53k:
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