BTC (Y20.P2.E10).Macro.Bullish.Inverted BARR

10 Nis 2020

Hi All,

I believe i have come across the macro structure taking form. In a way, it explains why we are so bullish.
Also let me be the first to put this idea out there and hopefully get the acknowledgment after confirmation and "LIKES" please now.
Hopefully we all benefit.

Note: I wanted to be thorough and to answer my curiosity and it turns out after checking the previous bull trend in 2019, surprisingly it happened there as well (refer to the charts below)
This is no trading advise.

> Instead of me writing all the observations, the chart and this link will explain most of it.
> There is plenty of reading material on the inverted BARR formation.

Other considerations:
======================================
> Keep an eye on the global market (so far Gold, SPx500, etc all going bullish)
> BTC Halving is not far away
> We are coming into the weekend, can make it go higher while the other markets stay on hold
> Have your stop loss strategically placed


Reference material:
============================================
tradingstrategyguides.com/bump-and-run-chart-pattern-strategy/
and
tradermentality.com/2016/01/bump-and-run-reversal-barr-2

Note:
> Interesting when I went to make a tag on this post using invertedbarr and barr, there was none.
> So thanks to me, we have the first reference to these structures.


All the best.

Please give me a tick or a like as an appreciation of this post.

Regards,
S.Sari.

Comparisons to the previous run




BIGGER Picture

10 Nis 2020

Not

If this doesn't hold, we will visit 4800 to low 5K's

10 Nis 2020

Not

***** I should have mentioned as it is very important ****
ALSO a major point which I can't get anyone to ask? LOG verses No LOG (setting)
If we have no long, the price action sits ontop of the trend line. LOGGED, the trendline acts as resistance.

10 Nis 2020

Not

I revisited my chart and in the lower time frames adjusted the trend line, this structure is still valid.

10 Nis 2020

Not

On the 3 hr, we had the 100 EMA acting as support. On the 15 min, bullish div.

10 Nis 2020

Not

What do you know...it happened after the major parabolic run as well. Hmmm

10 Nis 2020

Not

Updated this chart based on revival of the lead in trend line with LOG (Logarithmic chart settings) on for the chart.