PROSBUSD - Bump and Run Reversal Bottom Pattern?

21. Dez. 2022

Bump and Run Reversal Bottom Pattern

The bump-and-run reversal bottom is a chart pattern that is a surprisingly good performer in both bull (ranking best for performance) and bear markets (ranking second best). It has a low break even failure rate and high average rise after the breakout. Discovered by Thomas Bulkowski in 1999.

11. Jan. 2023

Anmerkung

The Bump Phase seems to be longer as expected, but we should be soon there, probably in another 1 - 2 days. Then the Run Phase begins.

12. Jan. 2023

Anmerkung

The price closed yesterday above the red line, let's see if it will consolidate above it. In the next days we should see a confirmation that we are in the Run Phase, the goal remains the same, at the level of about 0.75 BUSD for 1 $PROS.

14. Jan. 2023

Anmerkung

We can say that we are in the run phase, we can expect the $0.75 level in the next 7 - 10 days, if everything would go right.

18. Jan. 2023

Anmerkung

The main downward line of the pattern (that acted previously as resistance) was revisited and it is supposed to be confirmed now as support.

23. Jan. 2023

Anmerkung

Nice rally, almost touching the target of the Run Phase!

26. Jan. 2023

Trade geschlossen: Ziel wurde erreicht

All good, $0.755 was touched, so we can agree that PROS has reversed the trend and enters a bull run time. I wish you all good trading, especially because from tomorrow PROS will have a pair on Binance with USDT, too. All the best!