Price may look to hit PRZ and retrace, then extend to double bottom measured move.
- Coinciding bearish patterns - Cypher/Butterfly.
- PRZ is highlighted in red
- .382 and .618 zone for each pattern highlighted in Green
- 382 is confluent for a back-test of double bottom confirmation line.
- Higher Levels of Relative Strength
A break above the double bottom confirmation line can push prize into the potential reversal zone of a bearish shark pattern. LTC is currently breaking bullish with bullish divergence on MACD and RSI. Once price hits the PRZ, a bearish shark pattern will be confirmed when price crosses below Red confirmation line.
The Bearish Butterfly Pattern is already completed, but the price seems to hold an uptrend (take a look at the MACD Indicator!)
In case when the Butterfly does not create any effect, we can wait for the completion of the Bearish Bat Pattern.
In this case, I'm inclined to do the second thing because my Strategy does not let me trade any Butterfly Pattern.
Wait for 1'st Bearish Potential Reversal Zone or 2'nd Bearish Potential Reversal Zone .
Pair / Instrument: GBPUSD
Trade Period: Intraday Trading
Time Frame: H1
The trend in the Timeframe: Bullish
Trade Based On: The Bearish Gartley Pattern at 1'st Bearish Potential Reversal Zone or The Bearish Crab Pattern at 2'st Bearish Potential Reversal Zone.
If 1'st Bearish...
As you can see in my previous idea. Exactly in selected PRZ wave C is started.
and STD cluster for C is 1.200000 zone
and first resistant for this wave is at the top of parallel Chanel
I've been HODLing the whole way down, but the bullish bat on PIVX's binance chart was technically invalidated almost 24 hours ago. Still HODLing for dear life...
I'll follow up with a better chart including targets beyond points A, B, and C in the future if this one plays out well.
With CHF/JPY coming near fresh yearly highs after such a strong multi week push, its do for a reversal at the 118-119 zone. For the pattern traders we can see CHF/JPY presenting a huge ascending triangle for bullish long term momentum, in the mean time im looking to go short in expectations of price going back into consolidation. . If you take the time to zoom in...
Bitcoin has reached a critical point where it can make a bigger correction or move back up.
• Price has reached a level where it has completed an ab=cd pattern;
• 3-touch trendline confluence;
• Bullish divergence on multiple timeframes.
If the tides turn: Target 1: 23.000$
Target 2: 32000$
If we break below 8.7k, than hold tight....