Morning, guys, On Friday our minor 3170 target has been hit - its intermediary one on the way to major 2900 point. This target is based on two butterflies - 4H 1.27 one and 1H 1.618 that you see on the chart. Also AB=CD target has been completed. Now market is forming something that reminds H&S shape. It means that we could get at least AB-CD pullback to ~3320...
Morning guys, It seems that our suggestion was correct. Once we've identified triangle, it has been broken down. Breakout leg makes possible appearing of butterfly pattern which has the same ~2900 1.618 target as daily one. on 1H chart we have minor butterfly pattern with 3170 minor target as well.
Morning guys, here is just fast add-on to our recent analysis. Daily chart is most representative right now as it shows pattern and potential drop to 2900 target. Meantime, intraday chart also brings some clarity today as we could recognize clearer triangle/pennant pattern, which could be treated as continuation one.
Morning guys, Market shows very weak reaction on any bullish patterns that was forming on intraday charts. Current situation is not an exception. This makes us to wait for 1.618 butterfly target on daily chart around 2900$. Reaction on 1.27 target was just minor harmonic swing. Once trend stands bullish by MACD but price shows flat action - this makes us think...
Greeting everybody, We're still watching for extention of upside retracement and patterns that could trigger it. Since taking of bearish position is postponed on indefinite time, because we need to wait either when upside retracement will be over or for clear signs of BTC failure and downside action. Now we do not have anything of this kind. For short-term...
Morning guys, Now we're investigating upside retracement on daily chart, which could happen by one of the three patterns - "222' Buy", Double Bottom or butterfly "Buy". As '222" Buy already stands in place - we're watching of market reaction on it. Yesterday we've talked that upside action could start by H&S pattern, and indeed, market hit the neckline and now...