BTCUSD Ancient "stego" pattern likely BULLISH

9 de fev. de 2018

So on the 1h chart we can identify one of the oldest patterns called the stego pattern, named after an investor stegosaurus. Right now we are in the middle back part, and it will no doubt fall down to reach a lower "neck" level. After this we can see two scenarios as depicted. The explanation of this is very technical with investment jargon, but in essence: the direction of btc will now depend on the ability to reach the low hanging fruit (bullish), or that btc will have to eat from the ground (bearish).