High Upwards Potential - Bump and Run Reversal (BARR) in Play

BTCUSD

Looks to be a Bump and Run Reversal (BARR) bottom pattern already in progress.

Most of these tend to be bullish especially in a bull market (duh, but important) which crypto itself currently is in.

I speculate a successful double back-test and bounce off of the current trend-line that came down from our ATH.

The last bounce off and a clue towards the timing may depend on when the 100 EMA crosses that trend line. The price was hovering near the 100 EMA very recently so it would make sense to test it again.

If successful then BTC will resume the upward trend towards a new ATH. I would speculate a new ATH will be accomplished by the end of next weekend (Happy Mother's Day indeed!!).

If any bounce off the trend line fails (less likely as not in a bearish market) then I would speculate BTC will head towards the lower 40k USD region soon after.

This idea comes from the book Encyclopedia of Chart Patterns by Thomas N. Bulkowski. Must give credit where it is due!

Happy trading to everyone!! Hopefully this gives many something else to think about.

***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***