We may see a spike down during the weekend but despite that we do have an oversold condition while BTC sits at the 1.13/1.618 Pattern Completion Zone of a Bullish Shark Visible on the Weekly and if it plays out we could see it rally up between a 0.382 at the least and a 0.55-0.618 Fibonacci Retracement if the pivot is strong.
If BTC wicks down during the weekend...
Active Trade Set up
Outperformed the Macro
Created the Bullish Bat Harmonic at the 0.886 retracement sprung and backtest of spring (type 2 return) On an old inflation point from history
Hidden bullish divergence develops at the PCZ of the harmonic where it just happens to have also created an inverse head and shoulder pattern
After countless months of upwards momentum OMXSTO:EMBRAC_B is ready for a small pullback. It fell out of the pennant. Looking like a really great buy at the PCZ of the harmonic with targets according to fib levels! Make sure to wait for earnings though before entering as that could destroy this setup! Good luck traders!
NOT FINANCIAL ADVICE!
After reaching the targets of a bearish Gartley, the Dow Jones has seen a big ABCD recovery; but it seems that it will be reaching the end of this wave soon and when that happens we will likely see levels around 33,000 again.
A while ago i uploaded a Monthly logscale Parallel Channel chart that showed that it reached the top. Today i am here to update the plotting of that channel and to provide a secondary more immediate view of price action on a lower Timeframe (The Daily) in the form of a rising wedge at the PCZ of a Bearish Deep Crab pattern as we're at the potential reversal point...
We should be reaching the PCZ of a bullish ba pattern very soon. You could either wait for us to hit it or enter now as we are very close and don't get a big harmonic like this very often,
Stop below X and TP at the 0.618 retrace.
Last Post on Btc was in Log scale. This is in Linear. I talked about two ideas for Bitcoin. This is one of them. The "Bearish Bat" idea. Wave C could extend us down to the 6820ish support or slightly below before rallying onto higher prices. We'd be looking for that Confirmed daily bullish divergence.
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Good afternoon, I originally had this posted in private, but decided to repost in public.
Entry: .786 ($6.18) to low probability of reaching the 1.618 ($5.36).
Exit: Common Retrace zone between ($10.45-$13.33) and you may save some to aim for the fences inside the deep retrace zone between ($15.45-$16.69) or aim for A/C
Stop: Depends on how much you're willing to...
BLK Potential Bearish Gartley in play here. Risk/Reward Ratio set up. X-B didn't quite hit the .618 but it is fairly close which is why I am show casing this as a potential pattern. You may be bearishly diverging on the daily as well!
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Everyone hates to see downward price action, but we are showing 4 hour bearish convergence, although you are not showing separate islands, so it isn't the strongest. But you are in the makes of a potential Bullish Bat. It is better depicted on other exchanges, especially Gate.io. But, it is still valid so far on Binance. I am currently short on this asset and am...