BTCUSDTBTCUSDT has made its major corrective wave after a good long run of 5 Major Waves to the ATH 64,854 BTCUSDT
Price rebound on its immediate Resistance-become-Support (RBS) at 38k BTCUSDT.
If the price is able maintain above the RBS and break the Downtrend Linde (DTL) which projected from its peak, The Harmonic Pattern - Bullish Cypher Pattern might valid and the price is expecting to pullback to it's Golden Fibonacci Level, 0.618 at price 54,900 BTCUSDT.
The possible pullback also are supported by the indication of its Oversold RSI and StoRSI.
Since the major correction took several days, the recovery is expecting in between 2 weeks and up to 1 month.
https://cdn.fxdayjob.com/wp-content/uploads/2017/03/harmonic-cypher-pattern-rules.png
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The GAGAK Trader
Note
The idea was invalid since price dipped to the 30kUSDT zone
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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.