Bitcoin Bearish Butterfly?
Updated
Looking at the 1hr chart I am seeing a potential Bearish Butterfly harmonic.
My whiskers are telling me that Bitcoin will try to break through the $50,000 level and look for ATH's towards $60,000 by early March.
I think it would be healthy for us to retest the $42,000 level before doing that, and the D point of the potential harmonic seems to indicate this could happen.
Here is the chart pulled back a bit to show where I believe a reversal could take us.
If we get above the top red line of resistance at about $51,630 I'll be howling for the moon!
But for now I'll be waiting in the bushes to see if we get a reversal.
If we do I'll be running for the hills with my tails between my legs!
Owhooooo!
My whiskers are telling me that Bitcoin will try to break through the $50,000 level and look for ATH's towards $60,000 by early March.
I think it would be healthy for us to retest the $42,000 level before doing that, and the D point of the potential harmonic seems to indicate this could happen.
Here is the chart pulled back a bit to show where I believe a reversal could take us.
If we get above the top red line of resistance at about $51,630 I'll be howling for the moon!
But for now I'll be waiting in the bushes to see if we get a reversal.
If we do I'll be running for the hills with my tails between my legs!
Owhooooo!
Note
Hmmmm.Note
Note
Reversal or continuation?
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