Potential cypher pattern is setting over a daily chart of bitcoin with a success rate 70% - ((3/4 of the pattern is done))
- You can aggressively trade SHORT ( C to D ) all the way down to the PRZ and look for a setting to get involved again for LONG position again
- Chart is describing every peace of data with numbers
- invalidation IF trend continuation closed above ( c ) for two days at least and above 30K
N.B - Previous idea of the descending wedge is still valid and THIS IDEA is for the potential correction and it will be a great oppourtunity to get involved once again back on the higher time frame
- You can aggressively trade SHORT ( C to D ) all the way down to the PRZ and look for a setting to get involved again for LONG position again
- Chart is describing every peace of data with numbers
- invalidation IF trend continuation closed above ( c ) for two days at least and above 30K
N.B - Previous idea of the descending wedge is still valid and THIS IDEA is for the potential correction and it will be a great oppourtunity to get involved once again back on the higher time frame
Note
price may reject from 31800 for the maximum extension at 61.8 level where the price will find over bought zone and the pattern still valid as wellNote
( C ) Zone is respecting the rejection PRZ. seems that C to D aggressive trade is on its wayHappy trading :)
Note
Crystal clear double to but now on DAILY chart - price now in the right leg and waiting for breaking the neck line and retest again ( Look for correction retracement up to 61.8% fibs of the impulse leg and get involved once again if you are conservative )Happy trading
Note
Negative RSI divergence on daily for the area of double top add another confirmation for aggressive ( C to D ) tradersNote
Price failed to close above 30K for three days on row and loosing momentum have been showed up on lower time frames CONFIRMING the validity of the entire pattern. That was a quick follow along for the current price action
plan your trade and trade your plan
Happy trading
Note
25K based on the major uptrend and trend continuation based on previous structure support is now confirmedInvalidation of cypher pattern when price breakup the aggressive 31K
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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.
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.