Hi guys spotted the following pattern on BTC
1. Bearish Butterfly Harmonic Pattern
2. Rising wedge Pattern(Usually lead to breakdown)
Below are basic facts about BUTTERFLY PATTERN
Butterfly Rules
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
3 elements define PRZ:
1.27 extension XA ( the most important)
BC projection – we choose the projection which gives the most compact PRZ
AB=CD or its alternatives.
With this above pattern analysis we should see BTC at the region of 4800$ sooner or later.
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Please share your thougths about it and support my post with your LIKES.
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We earlier talk about Bullish flag and pole that targeted at 4800$ with this making the target to be stronger.
We talk about potential CUP formation also
1. Bearish Butterfly Harmonic Pattern
2. Rising wedge Pattern(Usually lead to breakdown)
Below are basic facts about BUTTERFLY PATTERN
Butterfly Rules
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
3 elements define PRZ:
1.27 extension XA ( the most important)
BC projection – we choose the projection which gives the most compact PRZ
AB=CD or its alternatives.
With this above pattern analysis we should see BTC at the region of 4800$ sooner or later.
Join our discussion room for more about our trading ideas.
Please share your thougths about it and support my post with your LIKES.
Thanks
We earlier talk about Bullish flag and pole that targeted at 4800$ with this making the target to be stronger.
We talk about potential CUP formation also
Trade active
Spotted this Ascending triangle on BTC let see how it develop if it will play out. target is around 4200$Trade active
Trade active
Little time for retracement before next leg upTrade active
Trade active
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Telegram: t.me/+m0IACMn0ul03OTFk
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📩 Promotion/Partnership: t.me/WESLAD
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.