Short

Potential Bearish Shark on BTC Hourly

Updated

Fits the bill for a bearish shark harmonic. Initial targets are point (b) and the 0.618 retrace of the CD leg. Notice the divs across multiple oscillators. Also a pretty convincing rising wedge, possibly an ending diagonal wave B.

85.4% is a pretty common retracement for wave A's also (the 0.854 fib from the local high)

Note

I would consider this valid up until a close above this price area.

Trade active

Watching for a break of the lower support here.

Note

Looks like a fractal rising wedge that we broke down from Feb. 20th. I see these two scenarios, either we just completed wave 5 and will enter corrective phase (yellow path) or wave 3, with this being wave 4 (red path). Or, of course, I'm wrong entirely!

Trade active

imgur.com/a/4rbZT

Harmonic is still valid until we breach $12,080.

New price targets: $10,500, $10,200, $8,800 & $7,800

Price targets if $12,000 is top: $10,500, $10,350, $8,700, $7,600

Trade closed: target reached

Monitoring for second and third targets. Have a feeling we might stall around $10,200.

Note

Manifested

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