Months ago when Bitcoin price made it through $13,000 top analysts said “the train has left the station,” and they were right. Or maybe a rocketship would have been a better analogy. The cryptocurrency took off and has yet to refuel, until now.
With momentum waning, bears have staged an “island reversal” that could push off higher prices again for some time. Here’s what to expect from the tropical-sounding pattern that could leave bulls stranded for some time.
기술 분석 교육: What Is An Island Reversal?
According to Investopedia, an “island reversal” is a price pattern on a daily candlestick chart that has a gap on each side of a the structure. “This price pattern suggests that prices may reverse whatever trend they are currently exhibiting, whether from upward to downward or from downward to upward,” a description reads.
The recent Bitcoin price action fits the pattern and the conditions that validate its existence to a “T.” An island reversal forms after a long trend leading into the pattern. Bitcoin’s performance has been incredible since March of last year.
관련 독서 | Bearish Bitcoin 차트 Bulls는 확실히보고 싶지 않습니다.
At the climax of the trend, there’s an initial price gap, followed by a consolidating price cluster. 드디어, there’s a gap back down on the daily chart, establishing the “island of prices isolated from the preceding trend.”
The theory behind the pattern suggests that the gaps left behind will go unfilled for some time.
The price action matches the "island reversal" pattern | 출처: TradingView.com의 BTCUSD
Will Bulls Be Left Stranded On Bitcoin 곰
베어 마켓은 다양한 유형의 자산에 대한 가격 하락으로 정의됩니다.. 약세 투자자는 가격 하락 움직임으로 이익을 얻고 자합니다.. 곰을 생각할 수 있습니다, 투자에 그의 큰 발을 아래로 휘두르는, 압도적 인 가격.
‘ href =”https://www.newsbtc.com/dictionary/bear/” 데이터 wpel-link =”내부의”>Bear Island?
The island reversal was initially spotted by one of crypto Twitter’s top technical analysts on the CME BTC Futures chart. And although islands are typically associated with sun and sand, the island left behind here in Bitcoin could be deserted for some time – but how long?
A zoomed out look at the chart could provide some ideas of what’s to come.
Bitcoin could lose the RSI, but find support at the trend line on Stochastic | 출처: TradingView.com의 BTCUSD
Bitcoin’s island reversal comes at a time when indicators are finally turning down, the short-term parabolic curve has been violated, and a bearish wedge has formed on higher timeframes.
Fundamentals are bullish and more BTC is leaving exchanges each week. Perhaps a selloff could scare stronger hands into selling their coins.
관련 독서 | 두 패턴, 하나의 동전: Bitcoin은 현재 약세 또는 강세입니까??
But all is not lost for Bitcoin. The stock-to-flow model and the world’s best analysts are projecting much higher prices of hundreds of thousands per 동전
‘ href =”https://www.newsbtc.com/dictionary/coin/” 데이터 wpel-link =”내부의”> 동전.
There’s also potentially another parabolic curve in process not fully developed yet that keeps the predominant bull trend in tact, even if things get volatile over the next several weeks ahead.
Pixabay의 추천 이미지, TradingView.com의 차트
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출처: 뉴스 BTC