The Bullish Breakaway is a 5 or more pattern setup .
It usually begins up with a large bearish candle down followed by 3 or more smaller bearish candles down. A clue is the candles will begin to get smaller as they move lower and the volume also drops.
This behavior is then followed on the 5th or 6th candle by a large Bullish candle up which attempts to reach the top of the first candle .
The bullish breakaway can recognized by the curving pattern it makes as in the example below
Also in this example
The Bullish Breakaway can also fail as in this example below on LINKUSD. So its not a guarantee of a trend reversal.
It usually begins up with a large bearish candle down followed by 3 or more smaller bearish candles down. A clue is the candles will begin to get smaller as they move lower and the volume also drops.
This behavior is then followed on the 5th or 6th candle by a large Bullish candle up which attempts to reach the top of the first candle .
The bullish breakaway can recognized by the curving pattern it makes as in the example below
Also in this example
The Bullish Breakaway can also fail as in this example below on LINKUSD. So its not a guarantee of a trend reversal.
Note
For the Bullish Breakaway to play out BTC will have to close this week at or around 29200 . This will then close the week with a smaller candle than the previous week. if the Bullish Breakaway does play out then to be considered a trend reversal BTC will have to produce a weekly green candle which closes above 38k
Note
Here is another example of a bullish breakaway on ETH which also failed 
Note
And another Bullish Breakaway on LINKUSD which failed miserably 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.