jjmbretal

BTCUSDT completed bullish bat pattern (next target $17.2k)

POLONIEX:BTCUSDT   Bitcoin / Tether USD
BTCUSDT             seems to have completed properly a bullish bat pattern.
If today's candle ends in green, correction would be confirmed and we should set the new target at $17.2k and a new all-time high at $20.0k.

Good luck!!
This seems to be right!
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@jjmbretal Could you please explain a bit as to why a green candle today would signal a trend reversal? I'm new to trading and trying to learn as much as I can. Thanks!
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jjmbretal PRO ion.tsurcan
@ion.tsurcan, well, basically we need the confirmation of the pattern. Imagine that todays closing price is lower that yesterday's; that would move point D of the bat pattern and we will need to wait the following candle for confirmation.
In general all patterns you draw need a confirmation and this is given when at least the following candle is formed and closed.
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