One of the most important chart patterns is the buying and selling climax. A classic example of the pattern, in the form of a potential selling climax (S/C) is showing up in the daily and weekly charts of ARKK. Climaxes are exhaustion patterns, they develop as the last needful seller (weak hands) capitulates and hits the bid. Sellers are essentially...
This is the most obvious bart in all of bitcoin history. Dead volume, sudden spike in volume and price, then dead volume and slowly bleeding price with a curving down RSI. Really if you don't understand how this space is manipulated by whales and exchanges to liquidate both shorts and then longs, then you should move over to forex or something.
I know that there is a lot of controversy among traders at comparing the current bear market with the 2014/2015 bear market, but studying the historical behavior of BTC in previous markets may provide a lot of insight in the current trend. I myself did not experience the previous bear market personally.
In the 2014/2015 BTC bear market the weekly RSI of the...
