The diamond bottom

As it has pushed downward, the chart shows a pattern called THE DIAMOND BOTTOM.

Diamond bottoms are diamond shaped chart patterns.Just like the name, it looks more like a diamond.
They are as tough to spot as night crawlers in the grass on a summer night,Most often, you'll find diamond bottoms in a bull market with an upward breakout, but those in a bear market rank second for overall performance in part
Price trend Downward leading to the pattern.Shape Looks like a diamond, but usually one tilted to the side.
Prices form higher peaks and lower valleys (a broadening pattern) in the first part of the pattern, then price action narrows with lower peaks and higher valleys. Trendlines outline many of the peaks and valleys, forming a diamond shape.
Prices will touch each trendline once or twice(it doesnt really matter if lines cross some of the price outliers).
Volume trend Downward trend 66% of the time and it breakout Upward 69% of the time.

Technicals suggests that a strong breakout from the 0.618fib level where price is still consolidating,is a stong zone to look out for. A breakout from this resistance will automatically give a buy signal.


BUY: 0.00002168sats

SELL: 0.000024372sats

STOP LOSS: 0.00002040sats

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.



Trade Ideas
View all