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jlugog
Mar 17, 2021 12:17 AM

BTC is forming this Bullish Butterfly pattern Short

Bitcoin / DollarBitfinex

Description

This endless bullish behavior on BTC, is overriden all kind of Harmonics. However as harmonics traders says "if a pattern isn't fulfilled, the trend continues or is about to change". According to this, BTC is showing some correction to 36k, just to recover again to 50k levels. This won't be accomplished in a few days but maybe few weeks. I am analyzing this on 1D TF.

Remember we must enter the liquidity zone, below 35k and then we must pullback to the levels we have now.

Trade safe folks, check your Market Cap and don't forget Alts, some of them mimic BTC, others, go exactly the opposite.

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Pattern update, the price could be forming a new pattern, a Shark pattern and it could be lowering the correction to another levels

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Comments
OptiPulse
Interesting. The 21 weekly ema lines up with your idea. Thanks for sharing.
jlugog
@Prince_Investments, If you check a bit closer, it will line up also with the powerful 150 Daily EMA as well.
OptiPulse
@jlugog, I see. I'm guessing that's the purple moving average on your chart?
jlugog
@Prince_Investments, yes it is and, check that indicator its called BEST MA, I coded it
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