I shared my thoughts about Bart Pattern.
I shared thoughts about Bart Pattern and how to use it in trading.
Some Takeaway
image credit: https://beincrypto.com/what-causes-the-infamous-bitcoin-bart-pattern/
The Bart Pattern is a meme way to describe a consolidation phase of the market whether it is the stock market or crypto market. It is a trading jargon particular to the chart technical analysis. There are many other names that refer to Bart Pattern including Bart Simpson Pattern, Bart Formation, Just Bart, Bart-ish Consolidation, or Bart Correction. The shape of consolidation resembles Bart’s hairstyle.
Why Bart
In the Simpson’s cartoon, Bart is a failure in school but a rebellious kid with the skill to prank others. These kinds of characteristics give a Bart Pattern a meme spirit with an idea that you got a prank!
Positive Bart
image credit: https://beincrypto.com/what-causes-the-infamous-bitcoin-bart-pattern/
The positive Bart Pattern is the head with the correct position. This kind of pattern is lacking the volume to push the price upward. It then drops significantly due to a lack of volume trading.
Negative Bart
image credit: https://www.altcointrading.net/glossary/bart/
The negative Bart Pattern is the upside-down head. This kind of pattern is when the market sells sharply but realizes that the price is too cheap with sudden buyback to shoot up the price more than before.
Speculation
Since the crypto market is so speculative. Many people think the market is influenced by whales and it is rigged. Then the Bart Pattern is a pump and dump scheme. The idea is that when there are enough short traders to short the market, the price drops significantly until the whale enters and buys up the market with the price to shoot up significantly. Or whales try to pump the market until they pull off their funds and drop the market.
In conclusion
Bart Pattern is a meme of the speculative market. It is a fun way to see how the market trades.
Photo by Stefan Grage Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
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-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
