Bitcoin BTC- Bump & Run Reversal Confirmed

Borrowing this from a smarter guy who pointed it out on twitter. Credit goes to Charles Edwards @ caprioleio .

But no reason i can't share this wonderful confirmation. However this is for my own personal reference's. i am not a financial advisor and this is not advice.

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OK- After analyzing this myself and confirming the technical measurements required of this pattern. ie-

30% lead-in trend line (check)
45-65% bump trend line (check)
Bump size 2x the lead-in size (check)
typically includes a short double-bottom/top (check)
breaks through and retests original lead-in trend line (check)

If it looks like a duck and walks like a duck....

I was also pleased to identify that there was resistance at this lead-in line before it flipped and confirmed support. In other words, i was wondering whether this could just be coincidence that the trend-line was a consideration (ie that this was a bump and run). But the fact that btc struggled for a few hours right along that 30% lead-in trend line gives me alot of confidence that it was the lead-in trend line that was causing the resistance (and subsequently now the support).


Reversal patterns aren't great indicators for providing PT. And BTC sure did leave a mess in the wake of its drop this time. Its going to be a choppy recovery back to 62K, but this gives me a TON of confidence that there isn't the same amount of downside risk i had previously thought.

Don't forget to like, follow, etc. i'm on twitter too.