Diamonds serve as both reversal and continuation patterns, offering rewards to the upside and downside. This creates challenging entry signals. The Diamond is, at it's nature, a fake-out machine. Where there is one, there are often many. BTC has back tested the 2 Hour MBB to the upside as the MBB crosses the 8 EMA. ETH has support at the 2 hour 8 EMA as price overcome the MBB.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.