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gregotsw
Dec 26, 2017 7:39 AM

BTC/USD Butterfly pattern drawing Short

Bitcoin / DollarBitfinex

Description

Check my previous idea Leonardo Pattern, where we made all targets done, and for now we are in uptrend.... But - Butterfly pattern is drawing now on BTC/USD, If price hit 15927$ or round level 16k$ we can see targets: 13040$ and 11604$.

Wait for trend change candle, or other signal in D point to get short position.

Trade active

Formation confirmed. We can get short position now or wait for possible retest 127,2 fibo.

Trade closed manually

4th retest is always bad sign. I closed my trade in that moment.
Comments
AnastasiiaSerbina

you were right, only the angle was slightly higher at 16,400, what thoughts now
gregotsw
@AnastasiiaSerbina, After all... that so obvious. There was a strong fibo level 61,8 - price hit this and go down, i miss this point.
AnastasiiaSerbina
@gregotsw, how you think? what next? i think 6000-10500 and then end off correction
gregotsw
@AnastasiiaSerbina, fibo cluster and historical level is near 13k$. Very strong resistance, if we breake this btc can go near 10k.
AnastasiiaSerbina
@gregotsw, thanks!
AnastasiiaSerbina
it means uptrend?
gregotsw
@AnastasiiaSerbina, formation rejected, too much tests for resistance line. Resistant line is a verys strong support line for now. Im out of trade for now, i wait.
AnastasiiaSerbina
@gregotsw, thank you? i`m too, and what you think about 17-17200?
selcukkarasal
i hope will be like you show :)))) because i missed to buy from low price :))
AnastasiiaSerbina
perfect analysis
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