Hey guys, I hope everyone of us is good, well it has been a great move from 32xx one now to where we are now at 5k zone. All target achieved as usual been the gospel of 5k zone since few weeks ago.
We completed BEARISH BUTTERFLY Harmonic pattern and what does this pattern mean, its a bearish pattern that has target at 38.2%, 61.8%, 78.6%, 127.2% and finally at 161.8% of the length CD.
According to those target definitions we will our sell targets at 38.2%= 4595$ 61.8%= 4138$ 78.6%=3788$ 127.2%= 2865$ 161.8%= 2212$
NOTE: Remember this is just a spotted pattern it did not mean BTC will follow it but this really worth to keep an eyes on.
This Pattern become invalid if BTC manage to close above 5500$.
Moreso, we have a Rising channel which holding pretty great which top just been tested at 5238$ and with the possible channel definately price may likely look down if failed to break it up and the next target will be 4595$ then finally 4138$.
Please always stay safe.
Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates.
Thank you
Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
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Hello,
this analysis made me worry, for the Bullish momentum to stay we need to break the trendline and stay above it.
Check it out guys
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This is another analysis that proved we have hit the top for now.
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Here is detailed wave count and this show clearly that a major wave is missing.
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Look like we have three drive reversal pattern
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Spotted potential SHS pattern with target at 43xx$ zone provided if price breakdown the neckline of the pattern at 3770$.
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Price still maintain within the shoulder range of the proposed SHS.
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Strong momentum is building on xrp which is logical bad sign for btc.
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Market resume with strong bullish momentum, we keep our eyes on the trading range highlighted by the pattern spotted. SHS. A break out from the range will result into possible new high within our stated target.
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we have the first test on the top of the range.
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Sorry wrong chart, here is correct one
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Price still olding the top side of the range, we must keep our eyes close on it, if that range got broken it will result into massive move.
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Some of my major worries for the drop. We hit top level of this channel check it out guys
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According to this analysis, after achieving target for wave 3 it pointed down for correction towards the 4500$ zone. The drop will not be easy as the whole market is overshadow with bullish sentiment. But I still remain positive.
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Price still holding the range
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Price got rejected at our projected wave 5 level. That is awesome
just a quick reminder for ALL so called "analysts"...NONE of you was correct in foreseeing that hammer btc move and none of you guys will ever forsee further moves.........+
Make yourself a favor and stop wasting your time drawing silly graphs which are invalid anyways......the only result of your opinion is spreading fear across the board ; I understand you have nothing else to do but then use your time efficiently and buy bitcoins!
MrRenev
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@MarkSkladmann, Yeah we all know it's impossible to make money if you are not right 100% of the time. Make 150$ 50% of the time lose 100$ 50% of the time? Bah! Might as well flip a coin, no one will make money with such a system!
weslad
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@MarkSkladmann, thank you, I appreciate your advice and I will advice you also to always mind your business is not a must to look at someone post.
biggmitch
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Personally I e seen this pattern done by so many drawing lines down to that stupid level and amazingly enough bitcoin doesn’t even come close to that kind of prediction. I’m new and can see the obvious p
weslad
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@biggmitch, Thanks for your comment, we appreciate it, but when one is new to something the best approach is to learn how they do it
joe.dodaro
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@biggmitch, Its not a stupid level, its just a possibility based on current market activity. Something to research, you can go deep with wave analysis, so by saying you have just started we know you have just scratched the surface. I believe Weslad does great work presenting all possibilities that are recognizable. Research will help guide through the recognizable ..to the most likely pattern, when it gets there ..hopefully before!
for comparison purposes