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Shark

BTCUSD: Bearish Shark Update; Bullish 5-0A few days ago i posted a Bearish Shark with a a target between this trendline and the lower 21k area depending on if BTC would break through the trendline once it got here. However it would seem that BTC is holding up well at this trendline which is also the 50% Retrace of the Bearish Shark and it is now Double Bottoming in this Area on the 2 Hour Chart so i think it has become likely that this Bearish has evolved into a Bullish 5-0 that would Demand BTC atleast make another Local Higher High. My targets from here will eb betwene the ABCD PCZ at 26,562 as a Target 1 and 29,000 as a Target 2 and potentially higher macro targets if 29k breaks which can be seen in the Bullish Shark ideas below.
Long
by RizeSenpai
Class A Triple Bearish Divergence on BTC DailyWe see clear class A triple bearish divergence has formed on the BTC daily chart. This is an indication of a likely bearish reversal of the short term uptrend BTC has been experiencing. Recently, BTC has been holding the heartland of the bear flag channel that it has been in since June 16th. The recent upward price movement did not reach the top of the channel and now is heading down. The price action has been tightening for BTC, lately, so a full test to the bottom of the channel might be unlikely. It is difficult to predict where this move could wind up, the most bullish case would be dipping below the hear line, not reaching the bottom of the channel and moving back up. In that scenario the oscillators could get reset and this divergence was invalidated. The most bearish scenario would be to test the bottom of the channel and then break down, returning back to the long term downtrend BTC has been in for November 2021. Also, the long term bullish shark pattern which has around $10k as the shallowest PCZ is still in play. For me personally, I am not taking longs on BTC right now.
BITSTAMP:BTCUSD
by wuliwong
Scenario 2 (Bullish Shark) 19.5k OR 18.3kBullish Shark pattern target is matching the numbers - it says 19.5k for the 0.886 fib, or 18.3k for the 1.618 fib. Either one can happen. The 1.113 fib has confirmed our top for BTC at X-B (it head dead on) I have changed my LONG to order at 18.3k, with the same LONG TP as in the "Link to Related Ideas" chart I posted yesturday. The thing that convinces me is the 1.113 of OX is the exact same point as the 1.618 of AB, that is 18.3k. Therefore, I am leaning more towards 18.3k. 18.3k would also make a lot of Bears think its going much lower (bear flag fakeout). ----------------- Bullish Shark rules: The Shark pattern has the following ratios. CONFIRMED - AB leg extends OX leg between 113% – 161.8% (because of this, 26.5k is also kind of possible but not likely now, whales just pushed price up to form this harmonic and then BARTed it.) CONFIRMED - BC leg extends beyond O by 113% of the OX leg LETS SEE - BC leg is also an extension of AX by 161.8% – 224% Unlike other harmonic patterns, the trades are entered as follows: Entry is at 88.6% of OX leg (19.5k) with stops coming in below point C (18.3k or 19.5k, so lets say 18.1k) Targets can be 61.8% of BC (This would be around 22,222 if 1.618 reaches and 22.7k if only the 0.886 reaches)
COINBASE:BTCUSD
by reiiss7
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