BTC/USD - Cypher pattern is coming - first LONG later SHORT
Updated
I just found a bearish Cypher pattern again, which I think sooner or later but definitely will be completed on the BTC/USD 4h chart.
If I wanted to buy some btc now, Cyphers D-point would be my long TP1.
If price reach that level as expected, after closing our longs, there might be an opportunity to open some short positions as well,
with a 80% potential (in my opinion) that price will be dropped at least to our TP2, which is on the same level as Cypher's A-point.
I'm looking forward to seeing, in fact what will happen. Anyway, this magic prediction sounds good right? :D
(Overall, no I dont think bearmarket begins in the near future. Its worth to check charts on a higher time interval, and turns out easily, that bitcoin has always been doing such corrections/crashes, on a few monthly basis. But these crashes didnt influence the long term bullish trend in general. So Im bullish on long term.)
Good luck!
All feedbacks are appreciated!
If I wanted to buy some btc now, Cyphers D-point would be my long TP1.
If price reach that level as expected, after closing our longs, there might be an opportunity to open some short positions as well,
with a 80% potential (in my opinion) that price will be dropped at least to our TP2, which is on the same level as Cypher's A-point.
I'm looking forward to seeing, in fact what will happen. Anyway, this magic prediction sounds good right? :D
(Overall, no I dont think bearmarket begins in the near future. Its worth to check charts on a higher time interval, and turns out easily, that bitcoin has always been doing such corrections/crashes, on a few monthly basis. But these crashes didnt influence the long term bullish trend in general. So Im bullish on long term.)
Good luck!
All feedbacks are appreciated!
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well to be honest, I'm more bullish than not. I don't really believe in the forming rising wedge, but it would be really important to close the week above 59000, for which I don't see much chance at the moment. Cypher pattern is still in the game, let's see if it can be invalidated.
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