BTC - Bearish Total

3 May 2018

After completing Bearish 3 Drives which indicating price drop BTC created another harmonic pattern called Bearish Total.
Here's some numbers:
AB to E extension - 1
AB to C extension - 0.78
BC leg retracement - 0.78

Now important stuff - I expect max price drop of 0.61 retracement of DE leg which comes around 9200, but that might change as I see BTC in strong uptrend so price might revers on 0.38 or 0.5 fib levels. Please expect price to hung around at the top for few seconds as people wants to buy and sell while we are at the top.

This is 1H chart analysis so it has not massive impact on overall BTC direction.

This information is not a recommendation to buy or sell.

5 May 2018

Not

1H divergance

4H Divergence

1D divergence


If BTC won't go down... It will go up :)
Just joking - pattern still valid.

5 May 2018

Not

Just to remind You all that BTC is in strong uptrend and in such a conditions harmonic patterns sometimes fail to deliver. Our Bearish Total pattern extended from 1.27 to 1.41 and price is resisting to drop. Price is rising on declining volume - another signal of future drop, but fact is that BTC is slowly creeping up. Luckily for us financial market is more than crypto so I'm staying out of BTC and moving towards Forex and CFD. Plenty of better opportunities elsewhere. Always protect Your money.

5 May 2018

Not

Bearish Butterfly almost completed - expect BTC going over 10000

5 May 2018

Not

Looks like we are in uptrend channel and our pattern acts more like consolidation area then reversal point.

6 May 2018

Not

0.38 level reached. we heading to channel line but ideally to 0.61 level

6 May 2018

Not

Coinbase already dropped to 0.5 fib level

7 May 2018

Not

0.5 smashed again

7 May 2018

Not

I know it's a bit cheating but since coinbase reached target I won't update this idea any more as have to focus on more important charts which are not published here.
Thank You for following and good day