BTCUSD Bullish AB=CD Too
No matter how good the prospects are for BTCUSD, the trading behavior will continue to provide opportunities to take advantage of even the strongest of trends.
For the first time in months, the 4hr RSI has tested the Oversold 30-limit and reversed ideally to confirm the immediate Bullish AB=CD pattern.
The harmonic pattern measurements complement the psychological 4000 level. The exact AB=CD completes at 4030 and marks the lower limit of harmonic support.
The ideal Harmonic Trading Management targets - the 38.2% & 61.8% retracements - suggest a minimum reaction back to 4600.
A trend continuations with an AB=CD structure such as this exemplifies situation-specific strategies that distinguish harmonic patterns from less significant formations.
BTCUSD will continue to go up ...and go down. These types of situations reinforce the importance of patience to wait for retracements within the larger trend.
For the first time in months, the 4hr RSI has tested the Oversold 30-limit and reversed ideally to confirm the immediate Bullish AB=CD pattern.
The harmonic pattern measurements complement the psychological 4000 level. The exact AB=CD completes at 4030 and marks the lower limit of harmonic support.
The ideal Harmonic Trading Management targets - the 38.2% & 61.8% retracements - suggest a minimum reaction back to 4600.
A trend continuations with an AB=CD structure such as this exemplifies situation-specific strategies that distinguish harmonic patterns from less significant formations.
BTCUSD will continue to go up ...and go down. These types of situations reinforce the importance of patience to wait for retracements within the larger trend.
Scott Carney
HarmonicTrader.com
Founder
HarmonicTrader.com
Founder
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