is harmonic pattern forming into an ascending channel?
Updated
Hi everyone
price is forming a harmonic pattern ( I think). so... is it bullish?!!
in my view yes it is for short term. and according to my last publish
price is still moving into a mid term channel.
if you look at the chart below, you can see price has tested liquidity
area three times .
and I'm not surprised market makers try to fall the price into the liquidity
area one more time. but I have no indication for that yet.
however, if the price drop below 38K the scenario may change but it must have
fundamental reasons, technically market is bullish yet, at least for short term.
Enjoy the market
price is forming a harmonic pattern ( I think). so... is it bullish?!!
in my view yes it is for short term. and according to my last publish
price is still moving into a mid term channel.
if you look at the chart below, you can see price has tested liquidity
area three times .
and I'm not surprised market makers try to fall the price into the liquidity
area one more time. but I have no indication for that yet.
however, if the price drop below 38K the scenario may change but it must have
fundamental reasons, technically market is bullish yet, at least for short term.
Enjoy the market
Trade active
Keep your eyes on the neckline of the pattern. price must not to break it if the pattern works.Trade closed: stop reached
neckline of the W pattern broke downward and moved into the liquidity area, if theprice can not move above this area will drop, the last stand would be around 38K if not price will drop deeper than I expected.
Note
possible scenarios in coming hours
Related publications
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