BTC chart in Bart Patterns🔥

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By looking on small frame Bitcoin’s chart, one can identify sudden movements or ‘bump’ in one direction, followed by consolidation and a sudden ‘bump’ to the other direction that ends close to the base price.

This phenomenon can also happen in non-crypto assets, and it has given the name “Barts” because the asset’s price pattern looks like the head’s shape of the iconic Simpsons character, Bart Simpson.

It is useful to know how to recognize this pattern, as it can significantly affect short and mid-term trading positions. It appears as a result of hundreds-of-Bitcoin orders in a matter of minutes, which can change the price of the coin. While it can happen to any cryptocurrency, it mostly revolves around Bitcoin for several reasons. One such cause is Bitcoin’s usual substantial volatility, as well as the fact that sharp changes in BTC value can affect the rest of the altcoins market as well.

The reason for these sudden pumps and dumps is likely to burn crypto margin traders, whether short or long, by manipulating the market. While some believe that this is done by the exchanges themselves — which is entirely possible due to the lack of regulations — this might be related to large crypto traders, commonly known as ‘whales.’

The pattern is also known to happen in reverse, resulting in an upside-down image of Bart’s head where the drop occurs first, and then the spike arrives. This is known as a bullish consolidation pattern.

The Bart Pattern’s Effects on the Market

Bitcoin ETF: These events, among others, likely contribute to the reasons why the SEC continually refuses to approve Bitcoin ETFs. Despite what investors and traders believe, the truth is that the crypto market is still thin, and too easily manipulated. Analysts often tend to view the crypto markets as the “whales’ playground”; they can bring forth drops and surges whenever they choose.

Miner Affection: Especially in a crypto bear market, as we have in 2018, the miners remain active. Since their goal is to profit by helping to maintain the BTC blockchain, they depend on rewards to pay their electricity costs and keep their mining rigs up to date. However, price manipulation can also affect them, as low prices of BTC tend not to be enough to cover their basic costs.

Trading Tips to Survive Barts

📍If you are aiming for the middle or long-term trading periods, the Barts will affect you less.
📍Short-term traders, who tend to open margin positions on exchanges such as Bitmex and Bitfinex, might want to have further stop loss orders or liquidation prices.
📍If you identify a sudden move followed by consolidation, bear in mind an option of a Bart that will drive the price quickly to the other direction.

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Sincerely yours Kateryna💙💛