I just found a bearish Cypher pattern again, which I think sooner or later but definitely will be completed on the BTC/USD 4h chart.
If I wanted to buy some btc now, Cyphers D-point would be my long TP1.
If price reach that level as expected, after closing our longs, there might be an opportunity to open some short positions as well,
with a 80% potential (in my opinion) that price will be dropped at least to our TP2, which is on the same level as Cypher's A-point.
I'm looking forward to seeing, in fact what will happen. Anyway, this magic prediction sounds good right? :D
(Overall, no I dont think bearmarket begins in the near future. Its worth to check charts on a higher time interval, and turns out easily, that bitcoin has always been doing such corrections/crashes, on a few monthly basis. But these crashes didnt influence the long term bullish trend in general. So Im bullish on long term.)
Good luck!
All feedbacks are appreciated!
If I wanted to buy some btc now, Cyphers D-point would be my long TP1.
If price reach that level as expected, after closing our longs, there might be an opportunity to open some short positions as well,
with a 80% potential (in my opinion) that price will be dropped at least to our TP2, which is on the same level as Cypher's A-point.
I'm looking forward to seeing, in fact what will happen. Anyway, this magic prediction sounds good right? :D
(Overall, no I dont think bearmarket begins in the near future. Its worth to check charts on a higher time interval, and turns out easily, that bitcoin has always been doing such corrections/crashes, on a few monthly basis. But these crashes didnt influence the long term bullish trend in general. So Im bullish on long term.)
Good luck!
All feedbacks are appreciated!
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well to be honest, I'm more bullish than not. I don't really believe in the forming rising wedge, but it would be really important to close the week above 59000, for which I don't see much chance at the moment. Cypher pattern is still in the game, let's see if it can be invalidated.
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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.