Potential Harmonice combo in Development for #Bitcoin #BTCUSDT
Potential Harmonic Combo in development for Bitcoin
Pink is bullish Gartley Green is bearish Gartley
D point was a PRZ, we saw price action in uptrend after the D leg completion.
Then a 6.8% drop in BTC after TP1 hit
& 11.39% drop in BTC after TP2 hit
Now subsequently a Bearish Gartley (Green) is in works right now.
Currently we are in the BC leg
C leg is at 61.8fib of AB right now, however it could also go down to 6900 (88.6fib)
Then we can see the CD leg in development:
Range for D leg: 10975-12190: This region will be a PRZ and good a area to short BTC
In Harmonic patterns, we do not trade(long) CD leg, we look for price reversal confirmation in PRZ around D point to enter short position.
Pink is bullish Gartley Green is bearish Gartley
D point was a PRZ, we saw price action in uptrend after the D leg completion.
Then a 6.8% drop in BTC after TP1 hit
& 11.39% drop in BTC after TP2 hit
Now subsequently a Bearish Gartley (Green) is in works right now.
Currently we are in the BC leg
C leg is at 61.8fib of AB right now, however it could also go down to 6900 (88.6fib)
Then we can see the CD leg in development:
Range for D leg: 10975-12190: This region will be a PRZ and good a area to short BTC
In Harmonic patterns, we do not trade(long) CD leg, we look for price reversal confirmation in PRZ around D point to enter short position.
Comment:
Bitcoin is near the C leg completion of the Bearish Gartley harmonic.
C leg can extend to 6900 region, if btc breaks below the ascending triangle:
C leg can extend to 6900 region, if btc breaks below the ascending triangle:
Still mid-term bullish view is maintained unless, it drops below 6900(88.6fib), then we will have a problem.