Bitcoin price has been stuck trading within a small symmetrical triangle. These continuation patterns tend to suggest another equal sized move down is coming. However, a sweep of lows would “perfect” a buy setup that could initiate a pump and dump fractal from years ago.
The pump and dump would be designed to further confuse sentiment and take advantage of the sudden shift to low liquidity and thin order books. Here’s what the fractal looks like and what it says about the coming price action.
Market Timing: Why You Should Wait For The “Perfect” Buy Setup
Bitcoin price action is confusing at the moment. The cryptocurrency is consolidating, but unable to break any lower, nor have bulls been able to stage a rebound.
Related Reading | Market Timing: Why Bitcoin Could Sweep Lows Before A Bounce
The weekly downtrend has now reached a critical point, however. The weekly TD Sequential indicator is now at a 9 count. The market