BTC is in progress of creating Bearish 3 Drives.This is totally Harmonic Pattern based on Fibonacci numbers.
What is interesting in this set up is the fact that if BTC price reach 3rd drive at point F on chart we will automatically get Double Top. Another thing is that BC leg extension at point F is hitting 1.61 fib. So point F will be completion of Double Top, 1.61 BC extension and 1.27 DE extension.
Of course all that does not mean that price will reverse and start dropping but ... Time will show the truth.
If price drop below pink support line and creates low pattern becomes invalid.
This information is not a recommendation to buy or sell.
What is interesting in this set up is the fact that if BTC price reach 3rd drive at point F on chart we will automatically get Double Top. Another thing is that BC leg extension at point F is hitting 1.61 fib. So point F will be completion of Double Top, 1.61 BC extension and 1.27 DE extension.
Of course all that does not mean that price will reverse and start dropping but ... Time will show the truth.
If price drop below pink support line and creates low pattern becomes invalid.
This information is not a recommendation to buy or sell.
Kommentera:
Coinbase chart shows different harmonic pattern but with the same outcome - move up to 9700 level. Pattern is - Bullish 4 point continuation
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0.38 fib level reached. Few more and we hit the top.
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If You find this TA helpful please hit that LIKE button cos that means a lot to me.
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0.38 acts as strong resistance.
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0.38 level broken. Heading towards 0.61.
Sorry for shitty screen - updating from mobile
Sorry for shitty screen - updating from mobile
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0.61 reached. Slowly climbing towards top.
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0.61 fun level broken and confirmed. Moving up nicely toward the top.
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0.78 and 0.88 levels broken. Hope you enjoy that ride to the top
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Fib 1 level broken - this baby is flying towards 9700
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1.13 fib level smashed .
9700 smashed
9700 smashed
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Fib level 1.27 delivered as promised
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Just to thanks all of You who followed that trade. Enjoy