Market - 6H Railroad Tracks
2024-12-20
Category: None

This dump has been brutal, but the crypto market might be seeing the first major signs of a potential recovery. 

If you look to the past dump after the liquidation cascade, we printed 6H railroad tracks before pumping 30-40% across the board and creating a lower high before this drawdown. 

Railroad tracks occur when price is either pumping or dumping aggressively and as soon as that particular candle closes the market instantly reverses the other way. 

We are now seeing a similar formation on the 6H candle. Of course, there is still more time to go to confirm this but here we have BTC, SOL, ETH, XRP and many other altcoins. All instantly reversed as soon as the 6H candle closed. If history repeats we should see some sort of relief rally. 