The extended V bottom on the 12hours time frame.
The Extended V bottoms is a chart patterns that is easy to spot after it is completed. It appears just like the names suggest, V-shaped price patterns on the chart.
Price makes a straight-line run downward with few or no pauses, often fitting inside a channel.
Reversal part:Price at the bottom of the V will form a one-day reversal, usually on heavy volume, perhaps gapping upward.
Use of Trendline: After the reversal, price pierces a down-sloping trendline drawn along the price tops, confirming the trend change.
Uptrend Price trends up, usually at the mirror angle of the downtrend. If price dropped by 30 degrees, price will rise following a similar angle.
The extended V bottom is a variation on the V bottom. After price reverses at the bottom, price forms a flag or pennant pattern – a sideways price move that often swings downward against the prevailing upward price trend. Once the flag completes, price resumes the rise.
An extended V bottom is easier to trade. Trade an extended V bottom once price exits the flag or pennant. Expect price to approach the price level of the left side of the V (where the decline started the yellow regoin on the chart).
BUY:0.00025385sats down to 0.00024753sats
SELL:0.00028152sats up to 0.0003000sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.