Bitcoin – This Chart Pattern Suggests 20% More Upside and a New All-Time High

By | February 3, 2021

A bullish triangle pattern formed on the Bitcoin chart last month. It signaled a pause in the long term uptrend and the beginning of a consolidation phase. This month Bitcoin is breaking out of the triangle consolidation and is moving higher. Follow-through price action is suggested by taking the height of the triangle pattern and… Read More »

Bitcoin – Has Reached A Technical Measured Move Price Target – Time To Book Some Profits?

By | December 31, 2020

Bitcoin (BTC/USD) broke out of an inverse head and shoulders pattern in June on the weekly chart this year. The neckline of the pattern at the time was intersecting with the downtrend line of a three year triangle pattern. This multi-year triangle pattern projected an upside measured move price target of around $29,000 or roughly… Read More »

The Amazon Wedge Pattern – A New Tool To Confirm A Breakout Or Breakdown

By | December 31, 2020

Since early September many of the large cap tech names have been moving basically sideways. Amazon (AMZN) shares are a perfect example. They have been headed right on the chart in an increasingly tight series of lower highs and higher lows. The price action formed a symmetrical triangle or wedge pattern on the daily chart.… Read More »

The Dreaded Eveningstar Pattern Has Formed On the Major Market Index Charts

By | November 18, 2020

Back on November 9th a large wick shooting star candle formed on the Dow Jones Industrial Average daily chart and the $&P 500 Index chart. A large dark engulfing candle formed on the NASDAQ Composite daily chart. These candles suggested a broader market pullback was in order. There was a brief decline, but not the… Read More »