BloomFisher

$BTCUSD | Bullish or Bearish? - Harmonic BAT & Much more!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In accordance with the recent notice from China PBoC and requests from various government offices, Binance will make the following adjustments:
" We will suspend registration, login, deposit, withdraw and trading during the upgrade. We will try to shorten the downtime as much as possible. The above 2 changes will be in effect after this upgrade"
restrict all Chinese IP addresses from trading but they are able to visit the user center and make withdrawals.
leading to shorter the ratio of BITCOIN Investment from world's second largest economy,
Meanwhile: Howard Marks 'Willing to Be Proved Wrong' on Bitcoin
and Fan's argue & quote - That Bitcoin will qualifies as a currency under these criteria: most importantly, it's something that parties can agree to accept as legal tender and a store of value.
That actually seems right.
__________________________________
so, what you think Bullish or Bearish?
let us know in the comment and make sure you like this analysis if you agree!
Trade active: As Expected BITCOIN Will Drop,
Now What? More updates coming up!
Order cancelled

Comments

While I agree with your conclusion (moving to ~3600$, then bounce), I think your Bat is way off. Should the ratios not be different to be a valid pattern? How much wiggle room should be ok?
+2 Reply
BloomFisher BlueprintCharts
@BlueprintCharts, enough room to consolidate for 4 channel down!
Reply
@BloomFisher thank u for sharing! to u still expect 3600? Thank u
+1 Reply
Drawing a 5 point pattern and calling it a BAT, doesn't make it a BAT.
Seems you are forcing a pattern to meet your demand zone, that's not how it works, however the Demand zone is a good area or interest, but no harmonic confluence there for this pattern.
If anything from your impulse start you could loosely be looking at a Gartley or Butterfly.
The Gartley D entry has no strength, the Butterfly slips straight into another strong demand zone.
I would be more focused on Divergence in these zones if the retracement happens.


+1 Reply
@Swerver, If you try to draw a BAT Pattern given by a PDF or YT videos than good luck, we try our best to get the best shape possible to not only by the given rules but also by the live factors, and Cryptotrading rely 80% on Fundamentals 20% to comfort us!
+1 Reply
Swerver BloomFisher
@BloomFisher,


Thanks for sharing, its just a critique.
No I dont work from online PDF's, I know straight for the source after spending quite some time @formationseeker while Scott Carney was tutoring

As I mentioned before if you are trying to adjust the shape to fit your scenario then you are forcing a pattern that is not there.
I agree on the retrace and the demand zone, but most would agree why use it as correlation if its not right as it not only confuses others and misinterprets a pattern and its value for traders?

Anyway I didn't come here to cause any trouble, good look on your en-devours, I will be waiting around the same areas.
Reply
Thank you @BloomFisher :D
+1 Reply
Nice clean work and I think i agree with you, everything is pointing this way, very tempted to open a short to $3,600 now and then long the rise back on signs of the support for reversal!
+1 Reply
BloomFisher thecoinman
@thecoinman, Beautiful, In case there we got more information we'll update it with this Idea,
Reply
WoW great analysis, Once again Thank you @BloomFisher :)
+1 Reply
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