BTC Bearish Crab Pattern

Currently BTC is on a bearish crab pattern, meaning that we can expect to retest as low as 36,855 and head back up toward the 50K.

36,855 PT is due to .618 fib being that support, but before that .382 fib @ 41797 is our first support.

As we saw in the current days BTC hit the Bearish Crab HOP level and fail to break the resistance. (image shows the HOP level)

meaning we are coming back down for Type 1 reaction, which will lead us for a Type 2 reversal.

keys levels to watch would be the .382 & .618 fib levels which are label on my chart.

I will remain neutral due to the fact if BTC does manage to break above the Crab HOP level which is noted on the reversal, we could see a price drive toward the .786 and .886 fib levels, PT 57216 & 61096.

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Comment:

9/17/2021 KOREA TIME:
Even though BTC has reached levels of 48K I still believe BTC is on a Type 1 reaction. BTC Type 2 retest should be around the .618 fib.

I do think 50K/53K are strong resistance levels if BTC breaks those two levels we can expect BTC to shoot toward 61K .886 fib

Comment:

as we saw in 21SEP BTC broke the .382 fin support.

I am still looking for a price test at 36855 which would be the .618 fib

*Also, I noticed in my picture I had .318 and not .382 srry for the confusion, it's hard to multi-task at times lol

.618 is something that I am still looking out for.

Comment:

Picture for the above comment