This pattern is called bearish as it looks like a crooked W and the 1st leg is down.
The 4th leg is an up leg and terminates near the .786.
It is only bearish if you get stuck at the top of that 4th leg since this pattern reverses there.
There is money to be made or a long if you catch a bearish harmonic pattern close to the bottom of the 3rd leg. Valley 2 is lower than valley 1 in the bearish version.
In the Bullish Cypher, peak 2 will be higher than peak 1.
This pattern shares some characteristics with the Shark pattern. The Shark seems to be more common than Cyphers are.
No recommendation.
There are a lot of red candles in a row representing a large amount of selling pressure. This could lead to a pull UP soon.
It is not quite oversold with RSI reading 36.6
The 4th leg is an up leg and terminates near the .786.
It is only bearish if you get stuck at the top of that 4th leg since this pattern reverses there.
There is money to be made or a long if you catch a bearish harmonic pattern close to the bottom of the 3rd leg. Valley 2 is lower than valley 1 in the bearish version.
In the Bullish Cypher, peak 2 will be higher than peak 1.
This pattern shares some characteristics with the Shark pattern. The Shark seems to be more common than Cyphers are.
No recommendation.
There are a lot of red candles in a row representing a large amount of selling pressure. This could lead to a pull UP soon.
It is not quite oversold with RSI reading 36.6