It is important to be aware that Bitcoin is currently at critical levels since the parabolic move it had since 9.8K. In the following chart we can observe a bearish harmonic pattern developed on the weekly time frame. This type of pattern typically indicates a potential reversal zone. It is fair to proceed with caution by having an strategy and to trade accordingly.
Measure rule
After price turns down at D, it drops to A 34% of the time, to B 99% of the time, and to C 51% of the time. You can use those as targets for reference.
It is also important to understand that any bearish pattern can underperform on a bullish trend.
TRADE RISK-PONSIBLY AND ALWAYS SET A STOP LOSS.
Measure rule
After price turns down at D, it drops to A 34% of the time, to B 99% of the time, and to C 51% of the time. You can use those as targets for reference.
It is also important to understand that any bearish pattern can underperform on a bullish trend.
TRADE RISK-PONSIBLY AND ALWAYS SET A STOP LOSS.