Eat My Shorts: Everything You Need To Know About The Bitcoin Bart Pattern

Tony "The Bull" Severino

5 years ago

3 mins read

bitcoin price chart pattern bart simpson

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The crypto industry is full of eccentric characters, controversy, and memes. One such meme has emerged, called the “Bart” or “Bart Simpson” chart pattern, that occasionally appears on Bitcoin price charts.

But what exactly is the Bart pattern, and why does it occur so frequently on the price charts of Bitcoin and other cryptocurrencies? Here’s everything you need to know about the Bart pattern commonly found across the world of crypto.

Bizarre Bitcoin Price Pattern Resembles Cartoon Character

Yesterday, a surprise short squeeze in Bitcoin price shocked the crypto community. But just hours after the powerful move upward, a strong candle in the opposite direction wiped out any gains from the first move, resulting in a pattern the community has affectionately dubbed the “Bart,” after the popular television cartoon character, Bart Simpson, known for catchphrases like “don’t have a cow, man,” and “eat my shorts.”

The first portion of the move indeed did “eat shorts,” as the surge in price caused shorts to quickly cover their positions and closeout at a loss, further driving the price of Bitcoin up as a result. This move makes one-side of the Bart pattern or the left side of Bart Simpson’s head.

At the top of the move, price consolidates within a tight range, causing the price chart to resemble the appearance of the zig-zagging haircut of the Simpsons character.

Eventually, in yet another sudden move, the entire rally is wiped out in an impulse move back down into the previous range where the price first broke out from. The move is designed to liquidate traders in each direction and is a longer, more drawn-out version of the stop run.

I’m Bart Simpson, Who The Hell Are You?

Bart Simpson patterns first made their debut during the 2018 Bitcoin bear market, when volume and liquidity began to dry up due to diminishing interest in the asset class. With crypto prices falling once again, volume is also dwindling to its lowest levels in a year, resulting in a low-liquidity, low-volume trading environment that is the perfect recipe for Bart moves to once again become commonplace.

Bart patterns also form in the inverse, with the haircut zig-zagging appearing at the bottom of the sudden price move, before reversing back upward to where the first impulse began.

These patterns are somewhat unique to Bitcoin and cryptocurrencies, due to how low the liquidity is around these emerging markets, however, in the world of crypto, most investors and traders have not just heard of the pattern, but have likely been burned by it in the past.

The next time you see this pattern appear on Bitcoin price charts, don’t have a cow, man, you now know what they are, and what to expect from them.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.