Yuriy_Bishko
Long

BITCOIN, Do you like butterflies?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
I use Bat Pattern rarely, but this chart shows to us so similar patterns!
It will be good trade if 2nd support will work and the price will bounce from it.
Comment: as you see some reaction on this support zone is happened. We will see soon was I wright or wrong)
Thanks for your support!
Trade active: if you trade this idea you can drag your stop loss into breakeven and wait for next moves))
Comment: we are above 10000
Comment: looks like my butterfly is flying today!
You can close part of position
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Nice work mate take a look at this also :)

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@kryptoben, i like it!
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kryptoben Yuriy_Bishko
@Yuriy_Bishko, Thank you!
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@kryptoben, thanks for shearing!
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Hmm, I studied and traded harmonic for years. I don't want to burst your bubble but this doesn't line up with a butterfly harmonic.
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% โ€“ 88.6% of AB
CD can be an extension of 1.618% โ€“ 2.618% of AB
CD can also be an extension of up to 1.272% โ€“ 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
+4 Reply
Cryptonite_trader Cryptonite_trader
@Cryptonite_trader, Also if price does move up (as we are currently oversold on lower time frames), your harmonic butterfly is still incorrect.
The best info you will get about trading harmonics is a book called "Harmonic Trading by Scott m. Carney". Not trying to put you down, just constructive criticism.
+1 Reply
Yuriy_Bishko Cryptonite_trader
@Cryptonite_trader, thank you! i appreciate it!
+1 Reply
pattern trading is praytrading
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@sibul, so we should pray)
+1 Reply
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