#Technical_Analysis 🪙Livermore Cylinder; a pattern that appears before a price surge Monthly chart of Bitcoin ⚫️The Livermore Accumulation Cylinder Pattern, attributed to the legendary trader Jesse Livermore, is a relatively narrow ascending channel where the price moves back and forth within small ranges, indicating the gradual accumulation of the asset by major players before a strong breakout. Nature of the pattern (cylinder): This pattern often appears as a price consolidation range where the price moves for an extended period within a relatively limited channel (similar to a cylinder). Objective: During this phase, large traders (whales or institutions) are buying and accumulating shares or assets to prevent a sudden price increase. Trading volume: In the initial accumulation phase, trading volume is usually low and then increases as the pattern approaches a breakout and the upward trend begins. Timeframe: The formation period of the pattern can last from weeks to months and indicates long-term accumulation. Digim4u.com/tag/chart-patterns 👌🔥🔥🔥
