BTC to 8k or 6k? The equilibrium pattern will tell.

I didn't see this before but it is significant. Price action printed two consecutive equilibrium patterns. An equilibrium pattern is a ringing pattern that fits inside a symmetrical triangle. They tend to break up, but alternate if they are in series. The last equilibrium pattern broke up and reached it's measured move perfectly. So according to the alternate rule, this equilibrium pattern should breakdown with a measured move to 6k.

I have demonstrated alternate breakout of equilibrium patterns in a previous idea.

The lesson learned today, is to scan for all possible patterns. And some pattern are more reliable than others. Rising and falling wedges are the most reliable and so is the equilibrium pattern.

Kommentera:

alternating breakout didn't play out, I suppose the first pattern was a symmetrical triangle not an equilibrium pattern. an equilibrium pattern's pivots tighten in the range. The first pivot in the first triangle is actually lower than the third pivot unlike an equilibrium pattern.