The 2D bear deep crab pattern has reached pt2. Deep crab pattern's price path very commonly does a "deep" retracement back to initial entry before containing on to pt3/4 as shown on the chart. Expecting bullish trend to continue through 1Q'23, then strong bearish trend downward to 90 level.
Natural gas is in the process of forming a double bottom (the db is not yet confirmed), and as noted in my BOIL idea has already entered a Bullish butterfly pattern on 4/6/12h timeframes.
pt1=4.984 Expect bearish retracement from that level back to retest the double bottom low before moving to pt2 level. I usually trade bull butterfly by taking 100% profit at...
I'm not convinced that there isn't going to be another leg down on BTC & Alts. The latest "bull" trend on lower timeframes just doesn't seem to have the momentum to break through the downtrend and smells of another bear flag drop being eminent.
On 1W timeframe, BTC *is* in an active Bull Cypher pattern, but this pattern could easily retrace bearish closer to the...
Bullish Gartley pattern on DXY 2d chart has begun intial bear retracement, .786-.10 back to near entry point. Upward segment to ~120 will be fast, likely to correspond with ES1!/YM1! drop by end of this week (post election).
The 2W chart for DJI futures has entered trade for bear cypher harmonic pattern. The shape of this pattern typically retraces at pt1 back toward initial pattern entry/SL, then progresses sharply to pt2/3/4. I've indicated what the path typically looks like in red.
Best wishes for trading the holidays! -Worm
BTC bull harmonics that were previously seen on 2D charts have hit SL. Remaining 1W harmonic continues to be the Bear Butterfly, with price target ~4000 or below. This target seems to be very plausible if S&P drops to new lows.
ES1! 1D chart is showing a bearish Anti-Butterfly pattern with pt4 price target ~3200 level. AntiButterfly is one of the most intense harmonic patterns. Expecting a sharp and fast drop below 3500 to 3000-3200 levels.
Note: with BTC/ES1! correlation, this will likely bring btc at or below support at 18000 and alt coins to follow. BTC is currently 3/4 through the...
ETH 4h shows two volatile BULL harmonic patterns playing out:
1) Gartley, which should retrace from recent top .768-1.0 fib before strong bullish reversal
2) Butterfly, which should retrace from recent top .768-1.0 fib before strong bullish reversal
This concurs with the current BEAR butterfly on BTC that has price target #2 near 1.0 retracement level from recent high.
ES1! bear DEEP crab pattern could quickly retrace bullish to 3950 then 4075 level before steep drop to new low. The same pattern just occurred on DOGE and pulled higher just after initial drop (liquidating leveraged shorts, enabling drop to lower levels).
The bear butterfly and ABCD Extension patterns that I called out in my previous post (extreme downward patterns) have been confirmed, here are the harmonic price targets. pt2, pt3,pt4.
It is plausible for BTC to bottom at 16500 or lower, probable to hit 18.6, and highly likely to hit 19.9.