Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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The chart above shows a nearly perfect Bearish Butterfly that has been playing out.
I say nearly because the only place where it has fallen short is the D leg. Which based on the rules of the butterfly, should have completed itself right at 10k (based on BitMex charts).
However, IF the local top IS in, based on fractals of recent harmonics (see previous post) I have set a primary target of 8.8k or Target 2 on the chart above.
Since this harmonic has fallen short. I am in hopes of it heading back up to test 10k before making a full completion, or even possible breaking through. Therefore we all must be on our toes in this zone. Especially with it being the possible first Target of the harmonic.
DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Comment
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Fell ~$100 short of my target zone. Now showing several Bullish Signals.
Trade closed: target reached
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Target 3 reached. Have entered spot trades ~$75 below target. Here are the levels I am looking for support at