BTC doing Harmonic Pattern?
We create a Harmonic Pattern (so far it looks like Cypher or Shark, they have a point D higher than X ... but it can also be Nen Star, he has D a little lower than X..but we'll find out when we see the reaction)
1) We are working on the last leg D (descending)
1a) This pattern is bullish, because after D comes impulsive growth
2) According to the fib shot setup that I gave last week, we met 1 tgt zone 36 and now we are heading for 2 tgt. zone 32800
3) I would expect a strong reflection in place:
3a) 33,300-400 we have a strong price action zone from the history of the last month. After the rebound we did 2x 16-18% gain.
3b) Another such place is 32,300-400, where after visiting this level we also made 2x nice reflection of 25% and 27% gain.
3c) Other strong supports are marked in graphs 31,000 and 29,000 (I don't see a reason to go there yet, but we'll see what tomorrow's graph brings!)
When we bounce the bottom, I expect the first retest of POC - 36,000, where I expect the first major reject, or impulsive puncture and testing as a support level. (we'll wait for that, I'll update you)
1) We are working on the last leg D (descending)
1a) This pattern is bullish, because after D comes impulsive growth
2) According to the fib shot setup that I gave last week, we met 1 tgt zone 36 and now we are heading for 2 tgt. zone 32800
3) I would expect a strong reflection in place:
3a) 33,300-400 we have a strong price action zone from the history of the last month. After the rebound we did 2x 16-18% gain.
3b) Another such place is 32,300-400, where after visiting this level we also made 2x nice reflection of 25% and 27% gain.
3c) Other strong supports are marked in graphs 31,000 and 29,000 (I don't see a reason to go there yet, but we'll see what tomorrow's graph brings!)
When we bounce the bottom, I expect the first retest of POC - 36,000, where I expect the first major reject, or impulsive puncture and testing as a support level. (we'll wait for that, I'll update you)
Nota
36,000 was reached very fast, so now I except the retest of support for double bottom and heading up towards the 37,000 and 38,000 zone. So far so good. For trade always wait for multiple confirms like break and retest last resistance like a support. Trade well my friends.
Aviso legal
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