After completing Bearish 3 Drives which indicating price drop BTC created another harmonic pattern called Bearish Total. Here's some numbers: AB to E extension - 1 AB to C extension - 0.78 BC leg retracement - 0.78
Now important stuff - I expect max price drop of 0.61 retracement of DE leg which comes around 9200, but that might change as I see BTC in strong uptrend so price might revers on 0.38 or 0.5 fib levels. Please expect price to hung around at the top for few seconds as people wants to buy and sell while we are at the top.
This is 1H chart analysis so it has not massive impact on overall BTC direction.
This information is not a recommendation to buy or sell.
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1H divergance 4H Divergence 1D divergence
If BTC won't go down... It will go up :) Just joking - pattern still valid.
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Just to remind You all that BTC is in strong uptrend and in such a conditions harmonic patterns sometimes fail to deliver. Our Bearish Total pattern extended from 1.27 to 1.41 and price is resisting to drop. Price is rising on declining volume - another signal of future drop, but fact is that BTC is slowly creeping up. Luckily for us financial market is more than crypto so I'm staying out of BTC and moving towards Forex and CFD. Plenty of better opportunities elsewhere. Always protect Your money.
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Bearish Butterfly almost completed - expect BTC going over 10000
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Looks like we are in uptrend channel and our pattern acts more like consolidation area then reversal point.
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0.38 level reached. we heading to channel line but ideally to 0.61 level
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Coinbase already dropped to 0.5 fib level
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0.5 smashed again
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I know it's a bit cheating but since coinbase reached target I won't update this idea any more as have to focus on more important charts which are not published here. Thank You for following and good day
Funny how the recent "traders" who lost 10.000$ last few months and managed to make 800$ the last few weeks feel like posting troll comments on TAs walls, they might feel over excited because they managed to "make some money" in 2 weeks.
You try your best to nicely educate them by showing them some harmonics, their counterpart is to spit on your face lol.
To call them January Hodlers or Internet Vegas gamblers, i cannot decide.
PipEze
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@Giorgioversace, well said. Thanks
cI8DH
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Hi mate and thanks for your timely updates. Just a thing re divergence. It is a valid divergence. But the way you have drawn it can lead to fake divergences in the future. Assuming that the source of divergence is set to default (candle close), the same should apply for the price, otherwise it will cause divergence inherently. So the line on the price chart should be drawn from candle close. The easier way to do it is to change the chart from candle to line (which is by default set to "close" input).
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@hkh222, Thank for info. Honestly didn't know that but after reading your comment it sounds logical. Really appriciate - learn something new every day. :)
cI8DH
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@balocik, You teach 10, glad to return 1. Your welcome. glad to see gentlemen like you exist here. I wrote the same comment for others and u r the first who thanked me. TV is full of cocky self-proclaimed technical analysts.
Cryptonite73
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HAHAHA. What a foolish outlook. Enjoy buying back at higher prices. You must be new here.
PipEze
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@Cryptonite73, thanks for commenting. All trolls welcome
Behrouzzz
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@Cryptonite73, I'm rich because of airhead like you :)) thank you for being alive thank you
Cryptonite73
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@k0tkin, I'm sure you are! Still waiting for 4k noobie?
You try your best to nicely educate them by showing them some harmonics, their counterpart is to spit on your face lol.
To call them January Hodlers or Internet Vegas gamblers, i cannot decide.