ChArtWorks_TechnicalArts

Bitcoin (Bearish Butterfly Idea) -Unlikely-

COINBASE:BTCUSD   Bitcoin
Good afternoon, just an update on the potential Bearish Butterfly pattern if we run up to the 61.8% retrace before selling off.

-Extremely Unlikely

We hit our .382 and I have posts made on what could happen because of it along with the 50% and the 61.8% Retraces. Here's what could happen if we make a 78.6% retrace.

For the Bearish Butterfly, (78.6% retrace only) we are looking for a sell off between the current price and the 88.6% retrace before that divergence plays out to the upside. Now if we hit a 78.6% retrace, it would be likely of us to run up to the 127.2% and 161.8% retrace for the pcz of the Bearish Butterfly.

Posts will be updated. Currently finishing Wave B of the potential Harmonic, Cypher or Gartley in the makes.

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