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Bearish Butterfly

EURAUD (Bearish Butterfly Pattern) -4h ChartBearish Butterfly Pattern - A-B must touch 0.786, but cannot exceed X - B-C touches 0.382, but sometimes goes further (does not exceed A) - ABCD formation. D has to reach outside X and touch 1.272 or 1.618 (on this case it went a little higher because of Euro news) - TP 0.382 TP2 0.618 (Fibo A-D) X to D distance is 1.618 (1.618 golden ratio!) X to B distance is 0.758 (around 0.786!) A to C distance is 0.862 (around 0.886 retracement) B to D distance is 2.317 (around major retracement 2.618) Good Trading
Short
by DanielParra99
Bitcoins Harmonic SymphonyAs you can see, since mid January we have had multiple harmonic patterns play out with extreme accuracy. Starting with the Bearish Gartley that sent us from 12k all the way down to our low of 6k. This of which completed a beautiful Bullish Butterfly that has sent us soaring to where we are now. After an 80% increase from the bottom, we now have multiple Bearish Gartley patterns forming. Most of which are showing completion within the same zone. The chart above shows many possibilities. We have a Bearish Bat , Bearish Butterfly and even TWO Bearish Crabs . Three of which are showing heavy resistance from 10.8 through 11.1k. Meaning this could be an excellent short opportunity. If Bitcoin manages to break past the 2.618 fib level, the next major resistance would be the downward trendline. Then the completion of the Bearish Crab extension following. If these patterns complete themselves, my first major target is $9.1k Possibility giving us all another great buying opportunity! I wish you all the best of luck!
BITFINEX:BTCUSDShort
by oh92
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