This got him thinking, as the exact same pattern played out in 2017 – 2018. Then a quick bounce, with a drop ‘ below the 21 MA’ soon after. In late July and August, this year bitcoin price registered a parabolic rise, which was followed by a pullback to the 21 MA. Rastani goes on to talk about how this chart actually knocked him off the moment he spotted it. Line Break charts are most commonly known as “three-line break” charts. This is because once there are three consecutive lines in the same direction, the Close must “break” the most recent three lines in order to draw a line in the opposite direction. For example, once there are three consecutive Up Lines, the Close would have to break below the low of the prior three Up Lines before a Down Line can be drawn. It is made up of a series of vertical blocks called lines, that use closing prices to indicate market direction. The Line Break chart is a “more subtle form of point and figure charts, where reversals are decided by the market”, as described by a Japanese trader.
0 kommentar(er)
