ChArtWorks_TechnicalArts

$ALGO / $BTC Theory Number 2 Bullish Cypher or the Bearish Bat??

Short
BINANCE:ALGOBTC   Algorand / Bitcoin
Good afternoon everyone! I originally had a potential Bullish Cypher pattern in development for ALGO! Which could very well still play out, although, if we confirm where we're at now as a higher low double bottom with bullish convergence on both oscillators, then we could potentially see prices up to about 815 sats again which would also be the PCZ of the Bearish Bat Pattern at the .886 fib! This is an area where one would potentially take a short. I listed this pattern as a possibility if we confirm a higher low double bottom. If we continue to go further, then I would look at the possibility of the Bullish Cypher Pattern. And to be honest, you would much rather have the Bullish Cypher Pattern play out over the Bearish Bat. If the Bearish Bat plays out, then ALGO could look real fucking ugly over time. Trust me! This remains speculation until we hit the PCZ of course! All Cypher and Harmonic patterns are just an idea until the Pattern Completion Zone (PCZ) has been hit. I will keep you guys updated as usual! Which is it going to be? The Bullish Cypher or the Bearish Bat pattern? What do you guys think?
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.