Just a small update as we start to see more definitive patterns emerge in BTC. We have seen downside shakeout action. Yet again- by doing so we complete more bullish patterns. What is shown here is a micro pattern embedded harmonics. These are harmonics that are intended to overlap and confuse market participants. However the larger patterns are to be confirmed- which is why I am still bullish on BTC. Please see previous WAVE PATTERN chart to see the bullish move.
Yes if we cannot complete the bullish shark pattern here- then price movement would be downside, but I have not seen any evidence in recent days to suggest BTC breaks lower. If this pattern does not get above the 50% retracement then maybe concern, but until then.. higher we go. Its interesting to note however this pattern would complete the macro pattern and the macro would complete the entire wave pattern (see link).
Again see the MUCH earlier call made on this entire consolidation we have bene in for the upwave target. We are currently in a macro bearish shark pattern that has not broken downside. You may have to zoom out to see that. CHEERS!
Yes if we cannot complete the bullish shark pattern here- then price movement would be downside, but I have not seen any evidence in recent days to suggest BTC breaks lower. If this pattern does not get above the 50% retracement then maybe concern, but until then.. higher we go. Its interesting to note however this pattern would complete the macro pattern and the macro would complete the entire wave pattern (see link).
Again see the MUCH earlier call made on this entire consolidation we have bene in for the upwave target. We are currently in a macro bearish shark pattern that has not broken downside. You may have to zoom out to see that. CHEERS!
Comment:
Sorry for the sloppy harmonics... but those who know- KNOW what's being conveyed. The DMI, MACD, and OBV are showing reversal signals... if they continue then we are also good on the indicator side. They do lag, and so higher pricing with lagging indicators that are reversing is a good signal (so far). This pattern does require an immediate upside which we also got... so its a matter of time. Have a feeling this may drag out though.
Comment:
Called it again :)
Comment:
60k continues to be an area of strong resistance. Consolidation possible and already started- even slight rejection can occur here. This is an area to watch for sudden pops back upside or dump downside. I tend to think a snap dump will occur, but a rally back up on a strong bull pattern (if it forms).
Moorsc0de aka Crypt0nomics aka Zaphkiel
