Low risk high reward trade setup!
We got a nice triple bottom around the trend line with great support under us!
We are looking to break POINT B around the hump of the dragon pattern forming!
Targets will come quick with we get the breakout of the hump!
Target #1 - at the .886 forming a bearish bat pattern.
Target #1- at the 1.13 forming a bearish...
We made the push up to point D (.786) completing the Bearish Gartley pattern that I have been tracking the past week!
We got the quicker than expected retrace to the (.50) support zone "which" also back tested the symmetrical triangle we broke out of!
This was a great opportunity to re load the bags for another potential swing trade to the upside!
We are now...
As you can see we hit the 1.618 XA leg! The pattern has been complete! Congrats if you were tracking this pattern. (400% gains in 30days)
The crab pattern frequently experiences volatile price action. EXPECT price action to exceed the 1.618 leg but is still valid.
Price MUST stabilize between 1.618-2.0 for short swing entries also known as the (PRZ)...
GRTUSD Bearish Crab Pattern
Depending on Bitcoin's performance we could see GRT touch the $1.15-1.17 area.
Point B of the harmonic is the most important (POINT) in the development of this pattern.
Point B's candles closed below the .786 making this a valid Bearish crab pattern.
All patterns can fail depending on Bitcoin!