Hi, today i caculate the moving of BTC by only chart pattern. Not elliot , not Fibonacci, not any other set up.
So with my brain i decuced 3 types pattern can be exactly what BTC will follow.
::: The first one is Head and shoulder pattern. This is decreasing pattern. It can make BTC dump to 19500usd zone level if it correct when price go under 26000usd
::: The second pattern is ACBD pattern. With this pattern BTC can only dump to 2 levels is 28300usd and 26400usd and no more, after that it continue up
::: The last pattern is XABCD or cypher pattern . With it, BTC now is 35000usd, it can dump from now to 31900usd and up to 45000usd again.
So we have 2 patterns down with different level and only 1 pattern up on H4 chart
I like the second one because it will make the BTC market healthier. 30%-40% correction from 40K will make BTC go way up above 100K in future. I don't really want to see the price keep going up to 60k-70K next few weeks without coming back retest 20K-ish level. If it does that, I will get heck out of it and take all my profit.
LuckyTrader102
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@PinkCryptoVN nice explain, but with me, when i see a chance like my Long signal BTC from 32k like my previos post, i choice buy. Because the stoploss is short and the reward so big. So before btc go under 30k. I am still long, and i choice xabcd this time.
With my long yesterday, i have 4k profit per BTC now.
PinkCryptoVN
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@LuckyTrader102, Well, if it breaks 36K and stay above it. I think 1 ad 2 are no longer valid. In that case, we will see 50K soon.
Cryptodesperate
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Very confident is the first one. Remember guys, there is no strong support up from 20K on. Arguably 26K to 28K looks like one but it has only been seriously tested one or twice. And traditionally large retracement like this, went down from 40% to 60% of its ATH, like how in early 2018 BTC went from 20K to 6K in a matter of weeks or days which is a 70% drop from ATH BTW.
This bull run started back in 2020 March at 3800, so BTC have essentially 10X its price and the bull market has lasted for almost a year already. Its time to retrace and restart the accumulation phrase for the next bull run.
LuckyTrader102
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@Cryptodesperate Your idea can be right. Time will tell us where BTC go :D
Wildcard34
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good work! I agree with a H&S if it breaks down, though the target I drew was at 23k. let's see what happens. nicely done chart 👍
GodVault
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Pardon my basic skill yet on the subject Lucky if my answer is non-sense. But I would choose the XABCD pattern. This because comparing to the 6h, 12h chart, 1D chart, it shows that a drop could happen between 00h-05h UTC and then might go up. Following the behavior, the pattern looks almost like that. It is zig zagging every 2h almost in a edge formation.
None the less, if the resistance is not broken; we might have an ACBD, which I pose as a second option.
flypreto
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Thanks for that mate!
shimmeringpath
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I'll choose the 2nd pattern because it seems a bit more conservative .
Maximusman
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Nice work and congratulations with your beautiful short. You nailed it