At previous analysis, we have target at fibonacci 1.414, but bitcoin only able reach fibonacci 1.272 and have pullback after that. This price action trigger a new harmonic pattern perform.
Drive 1 (black) Drive 1 already complete with 1.272 as projection.
Drive 2 (blue) After reach drive 1 projection, drive 2 perform. If bitcoin able to reach and bounce at drive 2 support at 3839, it will confirm drive 2 pattern with projection at 3977
Drive 3 (red) After reach drive 2 projection at 3977, sometimes it perform a very strong bearish (single candle dump) with target at drive 3 support at 3796 and finally perform bullish wave to reach drive 3 projection at 4027 to complete "3 drives pattern"
this pattern will failed if : * Drive 1 projection break up before hit drive 2 support ** Drive 2 support break down
note : if you agree with this pattern, let me know by click "like" button.
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We also found another pattern, I will update here ^_^ (Still need 1 candle confirmation)
Comment
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drive 2 support confirmed, price bounce and heading north to drive 2 resistance
Trade active
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Pattern failed, support break down. We back to previous analysis support.
Order cancelled
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I will update new analysis once we have a new pattern. Thanks for your "like" We'll do our best to perform a good analysis,
4200 is huge key level for BTCUSD if we get back there!
Great analysis! thanks for your insights. Check out mine (4200$ one more time and then impuls down)
monguilhot
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fract
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next bullrun
Coinamic
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Best option at least during the next days is going short if you are a short-medium term trader.
WBM_Team
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Thank you for your analysis! We think the breakout is close.
For the first time since the beginning of the correction, we had such a strong bullish cross on MACD.
Q1 2021 min $300 000.
Take a look.
jollygreen
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Interesting take on drives. I am bearish short term.
jy2tradez
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TradingShot
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Great work. This is the consolidation inside the support band illustrated on my new fibo analysis. We are slowly turning bullish from here on the long run.