Bitcoin Diamond Pattern Confirmed?

Bitcoin Diamond Pattern Confirmed?


First off, there's no guarantee here but Bitcoin appears to have formed a diamond pattern. A sort-of lesser known chart pattern that is about 70% reliable as bullish following a downtrend. The setup looks confirmed in my opinion since we've been falling since July. Still, there's a 30% chance we head lower from this point. I've been waiting for a signal that looks bullish. Lately most have looked bearish, especially 2 candles closing below the 21MA. Take a look and see what you think. If $8K continues to hold, then this pattern looks great and a nice breakout to the upside should follow. Also the declining volume leads me to believe that most of the selling is retail traders getting restless and emotion taking over. We are nearing the low point for FUD emotions and nearing the bottom for now. Please comment and tell me what you think.

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BitcoinCase
BitcoinCase

Huge Supporter of the entire Blockchain and CryptoCurrency Space. Bitcoin and Altcoin Trader from the United States. Day-Trader with 6+ years experience trading U.S. Stocks and Options. Investor, Day-Trader with 5+ years experince trading the Crypto Space


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