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Seapony

Amid ETF Approval Pump & Dump, BTC Displays Symmetrical Channels Bitcoin has finally achieved ETF listing. This should be considered a historic turning point. However, the market's response has been lackluster. What is happening? Technically, we have descended through eight gray channels and retraced back up four. Although whether this indicates a key level for trend reversal is not yet clear, the harmonic pattern suggests fulfilling an overall bearish pattern (Total) or bearish Sea Pony described in my previous idea .
COINBASE:BTCUSDShort
by jackrabbitrage
1
Is BTC forming an Ending Diagonal?Whether it marks a local top or the end of a 1-year-long uptrend, there's a growing sentiment that Bitcoin is due for a reversal soon. I've attempted to use channels, harmonic patterns, and Elliott Wave theory in this analysis. Just to let you know, I haven't ruled out the possibility of BTC setting new lows, which means that this rise could be a corrective wave from an Elliott Wave perspective. My premise is that we're completing the final 5th wave of, perhaps, a C wave, with the tail end forming a diagonal pattern. If the diagonal completes without truncating, I expect it to form the harmonic pattern known as the Sea Pony, which would set targets around 47k to 49.6k (I see 47.6-48k). A weaker outcome might result in the Black Swan pattern, potentially capping the ceiling around 45.6k. Additionally, there's a scenario where the E wave truncates without fully extending, drawing attention to the yellow channel. There's a green box between 37.6k and 35.8k, a potential rebound area even if the chart is in a bullish correction scenario. If a decline starts soon, we might see the movement touch either the bottom of the yellow channel or the green box, likely both. It's still unclear whether the ascending channel will ultimately act as support, as it seems to be a resistance. The ascending channels will also be useful for measuring the price range if there's a clear break. Special thanks to @Hewhomustnotbenamed, who is the author of the indicators I used here to illustrate the harmonic patterns.
by jackrabbitrage
Potential bearish sea horse pattern, 4H BTC looks bearish with a bearish sea pony harmonic pattern forming on the 4H TF chart. We've already got a retracement to the level of point B, which is a typical target of the pattern. However, sea pony patterns often develop into a more powerful bearish pattern, the sea horse. Sea horse's TP is 1.618 extension of BC from point D. But, as the chart shows, such a retracement could induce a breakout of the green, ascending channel, leading to a further downside.
Short
by jackrabbitrage
1
Going Up and DOWN !!!!Hey guys. First of all, we have " SEA PONEY " pattern from point X to D. Also, it can be three attack When the chart receives to D, a bearish market begins. we have very powerful Fibo lines above D and it can not Pass them. base on Ichimoku indicator I found several strong resistance and supports lines. another reason that can improve my guess is pitchfork and it's 80% possible that chart reaches the middle line. also in MACD, we see the phases are going down.
by saderi.sajad