In contrast to most other ideas here on Tradingview I'd like to present two bearish ideas disagreeing with the often stated inverse head & shoulders pattern.
Beside all the bearish divergences found on indicators, the longs reaching almost ATH , and heavily decreasing shorts I see two potential harmonic patterns that may play out.
The first idea is a bullish gartley , after reaching the green rectangle , there's a possibility of creating a third wave C of a bigger ABC correction.
The second idea posted below would be a bullish crab pattern. I believe this version is more likely due to the massive bearish signs.
I also believe that a pump to 4.5k is still possible. Yet my outlook remains bearish.
Beside all the bearish divergences found on indicators, the longs reaching almost ATH , and heavily decreasing shorts I see two potential harmonic patterns that may play out.
The first idea is a bullish gartley , after reaching the green rectangle , there's a possibility of creating a third wave C of a bigger ABC correction.
The second idea posted below would be a bullish crab pattern. I believe this version is more likely due to the massive bearish signs.
I also believe that a pump to 4.5k is still possible. Yet my outlook remains bearish.
Comment:
Comment:
Comment:
btc found support at 3.7k, looks like a bear flag but could be a typical developing bart; potential rise to 3.9k area possible.
Not changing first target of 3.5k area though, as market is extremely bearish. I think after reaching the first target we can expect a first small correction before btc will fall further.
Not changing first target of 3.5k area though, as market is extremely bearish. I think after reaching the first target we can expect a first small correction before btc will fall further.
Trade closed: target reached