Chariix

extremely rare compound fulcrum BTC 2022

COINBASE:BTCUSDT   Bitcoin / Tether
The compound fulcrum is an extremely rare pattern. In fact, if a chartist diagnoses this pattern more than once every few years, then it is being over diagnosed.
One can make the case that the daily chart of Silver is forming a legitimate compound fulcrum. The pattern itself -- the compound fulcrum -- actually originates in point and figure charting, not in classical charting principles.
The compound fulcrum is always a bottom pattern --- never a top. It occurs when a market forms a complex H&S top pattern after a prolonged and extended decline.




The key levels for confirming a compound fulcrum bottom would be a decisive close above the exiting right shoulder high at 1740, then a decisive close above the high of the head at 1850. Should these events occur, I would then become at least 50/50 certain that the bear market from the 2011 high is complete.
The weekly chart below shows what I believe to be the most classic of compound fulcrums during my time as a trader. This was a 4+ year compound fulcrum in Copper that was completed in early 1979. Copper advanced to $1.48 during the ensuing bull trend. I caught this market in real time. The second chart is the actual P&F chart I was updating at the time -- yes, there was a time when traders maintained paper charts.



Btc chart showes this rare pattern again. we'll see what happen next !!

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