A Harami bearish, candlestick reversal pattern, is about to occur on 1M chart twice after the All-Time-High event. If this projected drawdown plays out. This indicate a strong bearish signal. Harami is highly reliable in bearmarkets, in which pattern is a signal of top price. A Harami bearish just played on 1W chart. This replication on monthly chart will signal potential lower low, i.e. the bottom 15k of moonbois is nothing but a dream.
Greater timeframe, greater reliability.
The micro price action is performing like a final phase (E) of distribution pattern of Wyckoff method.
Now, on hourly chart, we can see a Head and Shoulders top formation targeting local demand. Also, an Alternate Bat harmonic pattern can occur, projecting price more drawdown, as we can see on chart.
Abandoned Baby bearish candlestick pattern is also performing on H4.
Oscillator Fisher Transform bearish.
Elliot Wave Method
]
Bitcoin seems to be ready to ride a route-off of this choppy bear market, as in a turn-point to made the 5th wave of an expanding ending diagonal, in which a bearish impulsive wave can occurs to throw-over this broadening wedge structure. This indicate potential lower low.
According to my wave count, Bitcoin is about to accomplish this actuall supercycle, making a wave 4 of an expanding ending diagonal, in which one more supercycle may complete this potential pattern, which a new ATH can surpass 200k. The 5th wave of the ending diagonal, which will be the next bullrun supercycle to complete the wave I of the Grand Supercycle, don't needs to touch the upper trend-line. For the validation of this pattern, the bottom of this actuall bearmarket needs to be accomplished, completing wave 4. Then, the shape of the channel will be definetly drew. If this market respect Elliot Wave rules, a severe bearmarket will occurs to made the Wave II of Grand Supercycle.
From a chart pattern perspective, this peak can be consider a pullback to Head and Shoulders neckline in confluence with the back-test to anchored VWAP from ATH. Indicating turn-point.
Fibonacci
Historically, In all corrections, BTC retraced either 88.6% of the same measured Fibonacci retracement, decreasing more than 80% in it's price from each new all-time-high. As we can see applied on this chart, a drawdown either 50% can be expected.
Pivot levels
Stablished pivot levels from the sum of HH+HL+Close:3 from the choppy sectors selected. in a fractal manner, the pivot level is a potential area of interest to re-entry. The price can shakeout in this range due to the anchored VWAP from candle of 13-Jun'22 reaction, thus I've pinpoint these levels to be watched.
Harrmonic pattern prediction
In prediction, a Partizan 2.4 harmonic pattern can be formed on this speculative bottom region, lead price above to 40k supply region.
Greater timeframe, greater reliability.
The micro price action is performing like a final phase (E) of distribution pattern of Wyckoff method.
Now, on hourly chart, we can see a Head and Shoulders top formation targeting local demand. Also, an Alternate Bat harmonic pattern can occur, projecting price more drawdown, as we can see on chart.
Abandoned Baby bearish candlestick pattern is also performing on H4.
Oscillator Fisher Transform bearish.
Elliot Wave Method
Bitcoin seems to be ready to ride a route-off of this choppy bear market, as in a turn-point to made the 5th wave of an expanding ending diagonal, in which a bearish impulsive wave can occurs to throw-over this broadening wedge structure. This indicate potential lower low.
According to my wave count, Bitcoin is about to accomplish this actuall supercycle, making a wave 4 of an expanding ending diagonal, in which one more supercycle may complete this potential pattern, which a new ATH can surpass 200k. The 5th wave of the ending diagonal, which will be the next bullrun supercycle to complete the wave I of the Grand Supercycle, don't needs to touch the upper trend-line. For the validation of this pattern, the bottom of this actuall bearmarket needs to be accomplished, completing wave 4. Then, the shape of the channel will be definetly drew. If this market respect Elliot Wave rules, a severe bearmarket will occurs to made the Wave II of Grand Supercycle.
From a chart pattern perspective, this peak can be consider a pullback to Head and Shoulders neckline in confluence with the back-test to anchored VWAP from ATH. Indicating turn-point.
Fibonacci
Historically, In all corrections, BTC retraced either 88.6% of the same measured Fibonacci retracement, decreasing more than 80% in it's price from each new all-time-high. As we can see applied on this chart, a drawdown either 50% can be expected.
Pivot levels
Stablished pivot levels from the sum of HH+HL+Close:3 from the choppy sectors selected. in a fractal manner, the pivot level is a potential area of interest to re-entry. The price can shakeout in this range due to the anchored VWAP from candle of 13-Jun'22 reaction, thus I've pinpoint these levels to be watched.
Harrmonic pattern prediction
In prediction, a Partizan 2.4 harmonic pattern can be formed on this speculative bottom region, lead price above to 40k supply region.
Comment:
Correction: I calculated for pivots HH + LL(not HL) + Close : 3
Comment:
Comment:
BTC has been trading in a choppy structure, consolidating within an ending diagonal. The potential drawdown till FEB close tends to be form a monthly bearish Harami candlestick pattern, which is highly reliable on higher timeframes.
