After drop over 27% (almost 18k) and reached most of targets for Butterfly harmonic pattern, BTCUSDT bounce from another Harmonic Pattern "Cypher". Let's see can this Cypher reach some of targets.
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I still keeping eyes on possible larger Cypher. But for now I want to see how this will go.
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Bulls push to price to 0.5fib target.
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Reached second target for Cypher (golden pocket) and strong rejection from there. Now looks want to drop more and maybe fill new larger Cypher Harmonic Pattern.
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Like I guess BTC make new low. This is level where so many expecting bounce. If you are short can be good to take part of profit and move SL. If you took long have tight SL. I still see possible fill larger Cypher pattern where also is confluence with Butterfly harmonic pattern.
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That large Cypher harmonic pattern get filled for nice 38%+ drop from 2nd target (small cypher) or 43% from top where filled Butterfly pattern. Still here can go lower (possible Butterfly and even Bat) but I will close short here.
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This is what I talking. Butterfly (already hit lower entry) and Bat harmonic (very possible around 33k).
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All way down to bottom of Butterfly.
Trade closed: target reached:
Trade closed reached all patterns (bottom of Butterfly) and open long 34.1k (tight SL) for 1st TP 44.6k. Maybe too early flip from short to long.
