Mirroring, Harmonics & Expansions

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I expect a mirroring of the price action from the left side of the B point.
Thus the CD leg should have the same (negative) slope as the XA leg.

Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios.
Turnes out that all are fib ratios. The OTE             sweet spot is actually a fib ratio, too, but not many know it.

Out of interest I applied a fib expansion on the last beakout leg (broke out of inverse H&S )
and the typical target 0.764 - 1 falls right into my previously established target area.

To sum up, there is great confluence of resistance around 275 where I will be looking to sell.
Rightnow at 245 it's still a clear BUY up to 270 minimum !
Also check out the MAGNUS® Cycles on Bitstamp daily. It just plotted a rare buy signal aswell !
You can find it by typing "magnus" in the search box within the indicator menu.

Good Luck with your trading and take care :)
If you have any question feel free to PM me or leave a comment bellow.
Nice work man
+1 Reply
What's the best way to trade Bitcoin price movements? I am experienced with options on US stocks but have not yet ventured into the Bitcoin world.
+1 Reply
A beauty. Thank you for sharing your work with us. I'd like so very much to see this unfold.

I'm not qualified to add anything constructive, but I'll look forward to seeing what others think.

Have a lovely Sunday!
Peace and Pips :)
+1 Reply
Thanks ! : ]
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