LewisGlasgow
Short

BTC/USD - Bearish Shark

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello traders, here we have BTC/USD with a bearish shark pattern on the 1h chart.

The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13

This pattern could form an X to D of 1.13 but I find it unlikely... If it does it would create a valid bullish 5-0 pattern.

Feel free to connect with me below :)
Comment: We've now started the move lower, the ascending channel has been broken.



I expect further declines over the next 2 weeks.
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What do you think, it is now possible to drop to 1250 BTCUSD ?
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Hello LewisGlasgow, thanks for your charts.
Do you think BTC still going down to 1080/1090 level?
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LewisGlasgow eddietheboss
@eddietheboss, hey, this is the chart I'm currently focusing on :)

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eddietheboss LewisGlasgow
thanks @LewisGlasgow,
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@LewisGlasgow this chart still active?
+1 Reply
@kiennv.bk, yes but see the chart below.
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CD leg extends must be beyond X by 113% of the AX leg for a shark pattern, not the case here
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LewisGlasgow bratiswaves
@BorisBezard, you better go look up a shark pattern because you're wrong.

The D leg falls below the 1.618 requirement which I'm aware of but X to D for a shark pattern has alternate formations 0.886 - 1.13.
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