Bitcoin Bearish Butterfly Scenario
Updated
Looking at this daily chart it seems that Bitcoin could be forming a Bearish Butterfly harmonic.
My whiskers are telling me that if this Bearish Butterfly develops then we could see new all time highs by May/June.
The minimum D point would be about $78,504 and the top range of the PCZ would be at the 1.618 XA, around
$90,963.06.
For me, once we get above $45,855 (B) I will feel more comfortable with this pattern and be looking for a retest of the previous ATH and a potential breakout above it to test the numbers of the PCZ of the Bearish Butterfly.
What do you think?
Owhooooo!
My whiskers are telling me that if this Bearish Butterfly develops then we could see new all time highs by May/June.
The minimum D point would be about $78,504 and the top range of the PCZ would be at the 1.618 XA, around
$90,963.06.
For me, once we get above $45,855 (B) I will feel more comfortable with this pattern and be looking for a retest of the previous ATH and a potential breakout above it to test the numbers of the PCZ of the Bearish Butterfly.
What do you think?
Owhooooo!
Note
Sometimes I make mistakes! It's not a Butterfly, it's a potential alternate Bat. Not much changes for the PCZ.Note
Note
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