Bitcoin (BTC) fell more than 80 percent from the brutal bear market on April 1, 2019, and the price of the largest cryptocurrency rose more than 25 percent in just one day. At first, this ascension was considered a simple manipulation and even a bull trap, but the ascension continued.
B.Biddles, the famous crypto trader on Twitter, reported that Bitcoin would exceed $ 10,000 at the time. Trader drew attention to an interesting pattern in the Bitcoin chart, which is also included in the “Graphic Pattern Encyclopedia”.
$ BTC. Literally a textbook BARR bottom. Hint: This means bears are #$% pic.twitter.com/5zumgcxmıt
– b.biddles (@thalamu_) April 14, 2019
Bulkowski’s “BARR Bottom Pattern”, which the analyst draws full attention, is formed by a series of price trends. These trends are;
- A downtrend that led to a large vertical sale,
- A bottom pattern that consolidates prices throughout the downtrend,
- A rally that crosses the trend line in item 1
- A return to the trendline before a rise that leaves the bottom behind
B. Biddles’ analysis was proved weeks after it was shared and went up to $ 14,000 two months after Bitcoin analysis was shared. And now it seems that Bitcoin’s last price action has formed the same pattern. If the pattern is completed smoothly, this can cause a huge rise for the cryptocurrency.
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