Bitcoin - Prediction with Harmonics, more downside ahead!
It was 3 weeks ago where I was talking to a my trading buddy boon hooi about where Bitcoin is going.
Both of us stared at the monthly chart of bitcoin and we saw a harmonic pattern completion.
Indeed, any instrument with high liquidity works well with harmonic patterns.
Bitcoin completed the shark pattern at 1050 and dropped almost 20% to close at 820 on Friday.
Bitcoin has gained the attention of the men on the street and the greed to chase high will punish many in the months ahead.
Based on a potential bullish 5-0 pattern, bitcoin could easily challenge $600 in the coming months.
If it does not rebound around $600, it will go to the 886 retracement around $264.
You think 70% drop from the highs is impossible, it dropped 80% just back in 2014. Check the charts!
Past predicts the future, good luck to everyone trading it.
Both of us stared at the monthly chart of bitcoin and we saw a harmonic pattern completion.
Indeed, any instrument with high liquidity works well with harmonic patterns.
Bitcoin completed the shark pattern at 1050 and dropped almost 20% to close at 820 on Friday.
Bitcoin has gained the attention of the men on the street and the greed to chase high will punish many in the months ahead.
Based on a potential bullish 5-0 pattern, bitcoin could easily challenge $600 in the coming months.
If it does not rebound around $600, it will go to the 886 retracement around $264.
You think 70% drop from the highs is impossible, it dropped 80% just back in 2014. Check the charts!
Past predicts the future, good luck to everyone trading it.
