BTC: Fib Ratio & Harmonic Pattern (Crab & Gartely) - ElliotWave!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
  • The mid-point is "B" 61.8%. (slightly higher)
=> Gartley or Crab required B point as 61.8% and for Gartley - D point at a .786 were assigned to the pattern but in this case, the price is already crossed-over 0.786, therefore this is not a Gartley Pattern).

Crab pattern parameters
• B point that is a 0.618 retracement of XA or less.
• Extreme BC projection that is typically a 2.618, 3.14, or 3.618.
• Alternate 1.27 or 1.618 AB=CD pattern required.
• 1.618 XA projection as the defining limit with the structure.
• C point with a range between 0.382 and 0.886.

For the Crab pattern , this pattern is also NOT eligible because the price slightly moved upward of the 61.8% of B point.

Let's directly point to the important factors of Fib Retracement:
  • 1.618 BC projection at 20215
  • 1.618 AB=CD at 21499
  • "D" point of XA retracement at 1.13 at 21750
Above all numbers are important numbers of reversal areas on bitcoin .

Elliott Wave Analysis for Bitcoin: ( Elliot Wave , 5th Wave ca be predicted 19299 nearby.)


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