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Bearish Bat

BTC Bearish Clues : Bearish Bat Pattern and Falling Wedge StopIn the begin of this week, the consensus of technical analyst was clearly the following one : Bitcoin is going to sink again ! Not considering if Bitcoin is a good asset to invest in the long term or not, the doji formed on a weekly chart by end of May was a clear bearish sign and many analysts were surprised when the falling wedge has been broken on June, 10th by high buying volumes. More than that, these last 2 days BTC broke up a rising wedge, canceling the head and shoulder pattern many people were anticipating. Since then, the consensus changed and we can observe everyone is very bullish on the most famous crypto asset. Nevertheless, I think this is a good time to highlight things I have not read yet. First of all, we cannot consider BTC is back before it makes a higher high (higher than 9108$ of May, 30th). Secondly, as you can see on the graph, a perfect bearish bat pattern (XABCD) has been formed today. Even if this harmonic pattern is consider as the most reliable one, I can understand that this is not enough to conclude that BTC will not go higher tomorrow. But there are other signs that show BTC weakness in the coming days. And we come to our third (an maybe strongest) clue : the point D that confirm the pattern formation combine exactly with the extended line that goes by the all time high of BTCUSD and the recent 9100$ level we have seen. This is not visible on this chart, but you can try to draw the extended line going through these 2 points, and you will find out that we are exactly there now. Finally, there is an RSI divergence (as you can see on the bottom indicator). This divergence is also visible on a daily chart. Following these observations, I conclude that BTC will not go higher now . First target is point B of the bat pattern (between 8000 and 8100$). Second target is point C of the bat pattern (around 7500$). Stop loss can be set above 9100$ level. If BTC goes higher than that level and can consolidate there, all these analysis is wrong, and something else is probably happening). Hope you will enjoy it, and that it can help some (lost) people. Cheers, Saint.
COINBASE:BTCUSDShort
by SainTrader
1
EURJPY Daily Butterfly and Bat.So before I enter a trade I like to have multiple indicators pointing to the same thing which is why you see a butterfly in dark blue and a Bat in light blue both with converging PRZ's. I usually only trade 2 targets on daily Harmonic Patterns with a very common result of only T1 being hit. I prefer to keep my stops short since I can always reenter the trade when conditions return to favorable instead of eating further and further loss, the way I see it is if it goes 50 pips below my SL then I can always reenter 50 pips away but if I have a huge SL to cover that then I'm missing out on the extra 50 pips profit.
Long
by UnknownUnicorn4041773
Trade Ideas Educator: Bat DivergenceThis 2 trade got caught by the market. AUDUSD got back to the entry price, but still within the sell zone and with RSI Div. I will still hold onto this trade till it either hit targets or my stop. NZDUSD, on the other hand is much more tricky. No doubt that is an RSI Divergence as well but the candle break and close above the sell zone forming new high. I will also stick to my plans but what're your thoughts. Love to hear from you what will you do if you had already engaged a short trade on Point D completion.
Short
by RaynLim
Is RVN forming a Bat Pattern?Hi, In the next days I am expecting RVNBTC to continue its move towards the final wing of its wonderful Bat formation. If that is the case there will be a half-way target which is at around 810ish, the high of the last wave to the upside. It is worth to mention that the final target of the Bat at 161% of the first wave up, is at the same time the Dynamic Meridian line of the Instrument. Option: Sell at Target I and II. Optional: take profit at the middle line which is also a major resistance zone. Trust yourself and be happy Heish
Long
by MeruEU
bat pattern has been completedinh4 nzdusd has completed a bat and now we are in prz, in h1 chart we also see a double top with a stop hunt (so price had pushed a bit higher on second high and it is a market manipualation because "strong hands" had began to short...in h1 we see also a momentum divergence a clear bear signal....price need to test the support at 0.6560 and the 100 sma as you can see in the chart, so my advice: sell with tp at 0.6560 and then at 0.6560 open a buy for long term because nzd will appreciate against other currencies in next 3/6 months. send me a message if you want trade with me and fund a n hedge funds bye bye
Short
by Dragon_Investments