on bitcoin we have very nice potential selling opportunity:
on 4H chart we have almost completed .
Looking left we see that the pattern completion point matches perfectly with
a significant level of looking left.
+RSI shows clear divergence.
on 1H chart we see that the market is trading inside a pattern.
It is a very important pattern, which indicates weakening momentum and contraction.
Also, take a closer look at a rejection candle. This is very telling,
and indicates strong pressure around 5360 level.
last, but not least:
take a look at volumes,
we see a clear weakening of volumes!
Our plan is to sell the breakout of a ,
with targets based on structure
T1 - 5200
T2 - 5050
So technically there are to styles of trading harmonic bat pattern:
1)aggressive - selling the market as soon as it reaches 88,6 retracement of XD leg
Identify a selling zone and sell only after a confirmation signal (wedge pattern in this occasion)
✅ Broker that I trade with and trust: