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Bart

BTC forming another Bart Simpson??? Ay Caramba!Bart Simpson TA is real. No longer just a meme. Bulls, beware the Bart Simpson pattern. The spiky haired little rascal has slain many a bull. First, he will pump you up with a big green candle. This is the start of his trickery. All seems well as his classic spiky hairdo remains steady, leaving you waiting for the next breakout from the squeeze. Alas, this is all part of Bart Simpsons nefarious plan: He has a giant red candle hiding in his back pocket, along with that infamous slingshot. Bart Simpson is beyond TA. Bart Simpson is life. Don't get rekt. This if not financial advice; do your own research; I'm a plebian idiot; etc etc
BITFINEX:BTCUSDShort
by simulacra1990
7
The "Bart" pattern in crypto. Why they form and how to spot themI've noticed a meme develop in the crypto community around this unusual price pattern seen almost extensively in crypto currencies, characterized by its sudden rise in price, sideways movement, then sudden drop. However, from my experience similar patterns are rarely seen in higher liquidity markets like Forex. It is possible that this pattern is sometimes created by institutional manipulation, as it is similar to the manipulation patterns pointed out by Richard Wyckoff in the stock market of the very early 1900s. The main thing to be cautious of is that the patterns are designed by manipulators to catch out retail traders, because in a low liquidity environment they have to shake retail traders out of their positions in order to fill the manipulators orders, as with limited liquidity a large order can't be made without pushing the price away from where the manipulator would like. There are a few subtle things to look for so that you don't get caught on the wrong side of a "bart". First of all it should not be mistaken as a bull flag, a useful way to tell the difference is to think of where the liquidity pools are, and notice how the market reacts to them. A liquidity pool is where there will be a large amount of buying or selling at a level, this can also be seen in an order book, in a "Bart" (or distribution pattern) the liquidity pool will be located above the first high. Above here breakout traders will look to buy and short stops which were placed above the high will be triggered. If this liquidity pool is suddenly rejected back down multiple times this is a sign of a "stop loss hunt" and that manipulators are taking advantage of this high buying liquidity to distribute supply into the market in the form of shorts. This increase of supply will eventually push the market down. Notice that in a bull flag the selling liquidity pools are bought, and the high is left to break out. You could try shorting using wyckoffs techniques, however the most important thing I want people to learn from this is DO NOT BUY if you see this, as the pattern is designed by manipulators to look like the perfect moment to buy for retail traders. Also, be careful not to put your stop loss in a liquidity pool, as manipulators are hunting for these. The link below has some more in depth information on Wykoffs accumulation and distribution patterns and how to trade them. stockcharts.com
BITFINEX:BTCUSD
by JamesRkaye
28
BTC and bitfinex long/short ratioHi, a quick update on the current situation. As showed in my last post, I pointed out that a pump was unlikely because the longs were much too high, and they needed to be reduced first with a dump. That came true. Now the longs are quite reduced, however, not to the point where the shorts are much higher than the longs. I think a true reversal can only come to pass when that is the case. It might be that we'll be barting around in that range now, just like in early April, up to the point when the shorts will far surpass the longs. At that point we'll se a pretty impressive pump. Now, we'll either be barting around in this range, 6400-7000, or make a decisive leg down to the 5k area. But this would need to happen fast, as the longs are already quite low. Keep a close watch on the long/short ratio, as it is really one of the most important indicators.
BITFINEX:BTCUSD
by SebastianofMoon
3
Potential Inverted Bart could take us back to $7300Just got a nice bull candle to end the day on the 4hr chart that took us above the current bearflag we were in and turned it into an inverted Bart. However, in order for this break to eb confirmed and not just a fakeout we need to see. the new 4 hr candle maintain itself above the 4hr t line(in tan). the potential climb is $7300 with the rsi and stochrsi where they currently are it's not out of the question for that kind of bounce...however until I see a series of higher low, higher high and a follow up higher low I won't be tempted to go long again on the idea strategy. I have indeed bought back in here at 6750 after exiting round 7632. However I will probably safe guard myself and exit again after this bounce then only entering again if we have another huge plummet or we form a higher low/higher high/higher low sequence. Just my style and not meant to be financial advice..so far it seems to be working out for me. The Cup and handle on the eve bottom seems rather unlikely now but technically not invalidated until price dips below bottom of the cup...however I think there's still a chance of the adam and eve double bottom being valid...or potentially us forming a triple bottom....the double bottom is definitely questionable at this point with this low of a dip however...so the smartest strategy I have to rely on at this point is the higher high/higher low and vice versa strategy...It tends to work better than anything else I do so when things are uncertain I trust that above all else.
BITFINEX:BTCUSD
by DrDovetail
BTC -INVERSE BART SIMPSON HEAD AT PLAYOn my last chart i gave you that Pennant, that i commented meant nothing. It broke down in the beginning but bounced upwards after, manipulation is at play. So TA is incredibly hard to get accurate at the moment... As for now, Inverse Bart head on the 2h Will we create his neck line? Doesn't seem likely , 6900 has been a resistance for BTC as of recently. Bulls tried several times, and volume is low. Maybe while i sleep some new Bulls will break it. If not we shouldn't have much of a drop so not to worry. Sorry about the bland chart btw, i don't feel comfortable making a call on BTC recently because it isn't following most TA rules. If you see the top authors they are mostly wrong, a few times being right.
COINBASE:BTCUSD
by tokeylokey66
1