Email of the day - on type-2 top formation development and completion
Comment of the Day

May 21 2021

Commentary by Eoin Treacy

Email of the day - on type-2 top formation development and completion

Thank you, Eoin, for the service. Your call on BTC topping out was excellent. Could you please explain again the signals for your call? You were discussing inconsistency in trend, I believe. In what period? Also, it would be great to hear (based on your latest audio comment) why do you think BTC is not in a secular bull? Thank you. Kind regards, 

Eoin Treacy's view

Thank you for your kind email which may be of interest to subscribers. One of the oldest adages from The Chart Seminar is “a consistent trend is a trend in motion”. That means the rhythm of the market will persist until something happens to change it. When a consistent trend becomes inconsistent, it tells us the imbalance between supply and demand has altered. That is a warning sign that trouble may lie ahead.

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