Cypher pattern in the range = bitcoin may fall 10 000 points :o
Hi everybody. bitcoin is fluctuating in a range since few days, so price action is quite boring.
now that it reached the top of the range, the logical move to do is to find a bearish setup.
well according to harmonic patterns strategy we got a nice cypher pattern who have the point D about to be completed, this could be a good opportunity to catch the potential next fall to the bottom of the range
in order to add more consistency to the setup, there is the stochastic who show that price may be overbought
the plan is to take a short with tight SL (not now when price confirm the bearish move with a red candle) and aim for 31,500.
of course it can break the support(or bounce on it and aim for the top again) but now we focus on reaching this target before making additional prevision
now that it reached the top of the range, the logical move to do is to find a bearish setup.
well according to harmonic patterns strategy we got a nice cypher pattern who have the point D about to be completed, this could be a good opportunity to catch the potential next fall to the bottom of the range
in order to add more consistency to the setup, there is the stochastic who show that price may be overbought
the plan is to take a short with tight SL (not now when price confirm the bearish move with a red candle) and aim for 31,500.
of course it can break the support(or bounce on it and aim for the top again) but now we focus on reaching this target before making additional prevision
Trade active:
Trade active: