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.
@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!
jjmbretal
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@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.