Fractal Deja Vu - Can Anyone Identify These Patterns?
These patterns keep popping up. Both of these charts started the pattern around the bottom of the selloff, but BTC broke and did other things about a week after the bottom. Looks like OMG is still going a month later.
Are there any veteran traders out there who can identify these interlocking and inverted castle / H&S patterns by name?
They look just like acoustic waves, so my best guess is that they are a resonance that appears in price when there exists
1. high volume,
2. roughly equal bearish and bullish pressure, and
3. something powerful to create a shock wave (like the huge V bottom on Feb 6th) through an otherwise balanced duality (like the market)
Too Twilight Zone?
My second guess is market manipulation. ;)
Cheers!
-B
Are there any veteran traders out there who can identify these interlocking and inverted castle / H&S patterns by name?
They look just like acoustic waves, so my best guess is that they are a resonance that appears in price when there exists
1. high volume,
2. roughly equal bearish and bullish pressure, and
3. something powerful to create a shock wave (like the huge V bottom on Feb 6th) through an otherwise balanced duality (like the market)
Too Twilight Zone?
My second guess is market manipulation. ;)
Cheers!
-B
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