oh92
Short

Bitcoins Harmonic Symphony

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As you can see, since mid January we have had multiple harmonic patterns play out with extreme accuracy.

Starting with the Bearish Gartley that sent us from 12k all the way down to our low of 6k.
This of which completed a beautiful Bullish Butterfly that has sent us soaring to where we are now.

After an 80% increase from the bottom, we now have multiple Bearish Gartley patterns forming. Most of which are showing completion within the same zone.

The chart above shows many possibilities. We have a Bearish Bat, Bearish Butterfly and even TWO Bearish Crabs.
Three of which are showing heavy resistance from 10.8 through 11.1k. Meaning this could be an excellent short opportunity.

If Bitcoin manages to break past the 2.618 fib level, the next major resistance would be the downward trendline . Then the completion of the Bearish Crab extension following.

If these patterns complete themselves, my first major target is $9.1k

Possibility giving us all another great buying opportunity!

I wish you all the best of luck!

Trade active: Primary support levels shown in gold. Minor support levels are blue.
We could bounce from any support level! If short, be on your toes!
Primary Support Levels:
1st = 10k
2nd = 9.1k
3rd = 8.9k
Comment: Major resistance still remains the downward trendline, and 12.2
Comment: I know the chart above shows differently... however this adjusted trendline shows that we are right at major resistance now. trade carefully. support levels remain the same. Breaking upwards would be a very bullish signal for BTC
Comment: Possible Support Levels Shown in Gold
Comment: Perfect bounce off the .382 support level! Very bullish sign for BTC! lets see if we can break past these possible resistance levels
You dont think we are at the top of the channel? Retracing down to 9100 before heading up again?
Reply
oh92 avito1
@avito1, We broken the downward channel and are nearing possible resistance now. If we fail to break it, we could possible retrace down to 9100.
Here is possible bullish scenario, which we retrace and then form an inverse head and shoulders.
+2 Reply
@oh92, oh yes i see, I might have had my channel improperly formed... tbh I moved the channel size to fit the fib resistance at 10.4k, probably should not do that
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awesome looking chart
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very beautiful charts!
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Agreed my target also amost same.
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oh92 trueorfalse
@trueorfalse, Awesome! I would love for us to hit that 2.618 first though :D
Reply
@oh92, we will 0.382 upward ret must and will happen. then will see happens.
Reply
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