Another fractal for you going back to 2014 for BTCUSD. Fairly self explanatory, but I will update as I investigate it further. The major differences here is that the 2014 fractal tops out before falling into the harmonic bearish gartley. Currently our bearish butterfly is leading into our top. I actually have that recent high as an expanded flat in my EW count. This is really just food for thought. The idea post is to track it, the updates that will follow show the meat of the fractal similarities.
NOTE: 161.8% extensions indicate probably impulsive movement (hence the bearish outlook), while 61.8%-138.2% are normal for C extensions of A in a corrective move (bullish).
DISCUSS
NOTE: 161.8% extensions indicate probably impulsive movement (hence the bearish outlook), while 61.8%-138.2% are normal for C extensions of A in a corrective move (bullish).
DISCUSS
Note
EXHIBIT A: Note
EXHIBIT B: Note
EXHIBIT C: Trade active
Since we saw a pretty healthy correction during the second wave then I have to adjust the count from an ABC to a WYZ in which case our new targets would be $7900-$7500, below $7300 and DOOM.Trade active
We've bounced off $8k and the 1.382 fib fairly cleanly. We may be going back for a retest now, but the possibility of breaking down past the 1.618 is still a very real possibility.Note
Time for winter boys and girls.Note
Late update, but.... DOOM$4700 is back on the radar.
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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.