ScottCarney
Long

Bitcoin Harmonic Pattern Map - Weekly Targets

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
No matter what, BTCUSD , ETHUSD , LTCUSD and other Crypto markets will go through many 30-50% corrections as these entities grow. I have focused on only a few markets in my TradingView posts to feature particularly distinct harmonic behavior, i.e. SNAP , SPY , other FX. I have outlined both long and short harmonic opportunities in these markets but I have found myself in awe of the degree that pattern measures have defined the trend direction in cryptos.

In Bitcoin BTCUSD , we now have eclipsed several hurdles to reach an undeniable weekly harmonic situation. These measured realities denote an accelerated/excited state of price action that now establishes the long-term objective at the 8000 level. A distinct AB=CD pattern @ 7800 along with a unique Bearish Three Drives structure withe final 2.618 extension @ 8200 is now valid with the immediate harmonic breakout to reach these targets by early next year. Also, the immediate 3.14 extension @ 9300 serves as a top-end possibility ON THIS MOVE.

This is a "longer-term harmonic road map" but we are in the acceleration phase that frequently experiences volatile behavior, especially with the Three Drives Pattern. The previous peak at 5000 is now immediate support. This scenario demands that immediate continuation be realized - day over day, need higher highs, higher lows - so short-term pullbacks on 15min basis serve as an ideal timeframe to position for this move ...5k -> 8k then we see.

2 Cents on Bitcoin et al 10 Years from Now - Digital payment systems eventually will make the world an economy where no paper money is utilized in the exchange of goods and services. So, the Crypto phenomenon is only growing. I recommend accumulating the likes of these - especially when they nose-dive 30-50% as they did last month, and speculating on others.

Crypto-Harmonic Framework: Please review my prior posts on BTCUSD , ETHUSD , LTCUSD to learn more about the harmonic nature of these markets. The movements have been SPECTACULARLY HARMONIC! The next move might be the one that blows people away the most, as I am not counting out a possibility of a run to 10k in a BIG PARABOLIC SPIKE! Stay with the measurements of the harmonic framework as they have been a reliable roadmap to navigate this amazing vehicle.

Great Harmonic Trading,

Scott Carney
It's commendable and an example for other guys selling methods/books etc. that you are posting these ideas here. Twitter is full of crooks nowadays, specially in crypto, and people are tossing money at them for no good reason. Oh well...
Cheers,
Ivan.
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Nice call! And as always most nice calls are slept on while people short their acc balances with TOP traders on the main page! :)
+1 Reply
@ScottCarney wanna know what I like the most about your forecasts? that's when my portfolio starts to go through the roof... hahahaha you know when the moon rocket ride has warmed up... as always thank you for your analysis! I'm already up 35% on BTC since I bought the bottom but the top 60 altcoin have been struggling but it looks like they're finally coming back to life.
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