Potential idea for a large symmetrical triangle reaccumulation formation on Bitcoin/USD.
Bearish Shark formation hit the 88.6 PCZ for the D extension, given the gap created for CME at todays close, I see a very strong possibility that price moves down to at least the $18,000 area. (Maroon Harmonic)
To extend that target further, to the upsloping aspect of the...
Short term bullish
Not enough touch points for a valid triangle or harmonic but will be if BTC makes a higher low compared to 7670 and breaks out upward.
1.618 target in line with psychological $9000, may be a good entry for a short position if oscillators are showing bearish divergence on 4+hr charts.
Bullish Bat Harmonic potential
Confirmed breakout to the downside of a symmetrical triangle
Price action within an ascending broadening wedge
Short term downside to the $7900 area, would expect a bounce here
Just something I threw together that shows price action of BTCUSD within an upsloping broadening wedge (pink)
Also a supporting upsloping trendline (orange)
Included also a horizontal channel (white) we are currently within and an even smaller upsloping channel (blue) we are within.
My hope is to buy the dip back to this pink line at least for a scalp
Triangle formation, potential harmonic if we pivot here to the upside
If we fail at the 786 of leg D, look for the Gartley targets and likely measured move to the bottom of the channel
If we extend beyond the 786 on leg D, target is $200 at 1.618 for short entry
Remember this harmonic is only confirmed when price turns at point D
Short term bullish, medium term bearish
Heartline is respected
Bearish Bat leads into a Bullish Gartley bringing price action back to the bottom of the channel
This could set up for a test to the top of the channel around $5800
Bullish cypher possible here ETHUSD if we get a confirmed local top around 148-150. This is the more immediate bearish outlook of ETH touching the bottom of the large wedge before heading back towards the upper bounds
Notice the major decrease in volume with rising prices
Short term -- bearish, followed by a big move upwards
Still learning harmonics. Thanks...
ADA has made a great bullish move to the upside, filling out the entire equidistant channel in the chart
The parameters for a Bearish Deep Crab have all been met
Point D still needs to be verified by a reversal in price action in the next few days.
Bearish divergence on all time scales up to one day
Plotted targets are your shallow retrace (38.2), moderate...
Unconfirmed until point C has matured
Projected target for point D has confluence with established trendline found within the large triangular consolidation
Short term bearish (less than one month)
Medium term bullish
New to harmonics, enjoy posting even if it fails, great to learn
Comments welcome!
Triangle forming inside equidistant fib channel - good heart line respect
Channel upper bound to be resistance for potential upward triangle breakout - Measured move shown by blue arrows
Bearish Butterfly Harmonic unconfirmed, will update as price action progresses
Short term bearish
Medium term bullish
Bearish Butterfly harmonic setup
AB:XA = ~78.6%
BC:AB = ~50.0%
AD:XA (projected) = ~127.2%
Anticipating a break to the downside near the 127.2% RT
Three realistic targets plotted at the 38.2%, 50.0%, and 61.8% of entire structure.
Yes, this is neutral, I'm plotting points that don't exist yet.
Neutral until point C is confirmed at the .886 RT
Pink trend lines show confluence for the 1.618 RT from point A-D pivot point
3 targets placed with fib plotted for reasons why (.382 for minor RT, .618 golden zone RT, 1.618 ultimate bullish gartley target)
Time will tell...
I'm new to harmonics, just giving it a try and posting some
Very early, unconfirmed harmonic.
Bearish Bat often has upward breakouts, targets aren't clear, quite likely 618 or 785 retrace from swing high to low.
Neutral until C is confirmed
