5-0 Pattern
Bitcoin's Harmonic JourneyBearish 5 Drives megastructure leading into a Bullish 5 drives up to 8500 to which will fulfill the overall Bearish 5 Drives w a target at around 5.5k.
Upon completion of 5.5k retracement OR sideways trending on a strong demand zone, Bitcoin's harmonic may become a Bullish Deep Crab to which will have a target of $10k+.
I've been bullish about bitcoin and I'm open to us shattering 8500 and reaching for 10k+ but I'm just reading the chart as it's presented and it's pretty clear what is being presented.
The following is astrological and Gann fan related. I am in now way a master of this and while I've witnessed the significant correlations of astrological events w price action and fud and fomo doesn't mean I am an authority on recognizing it. These are data points that I am interested in observing so just understand that's where this part of the analysis comes from.
There are different star systems that astrologers use. In the beginning, I used tropical, which is used for Western astrology but I'm favoring and using Sidereal (of the stars) astrology based on observations I've thus far made between tropical and sidereal for bitcoin's price action.
Astrological and Gann fan aspects: It's interesting to note that this weekend, there are several planetary bodies (the moon is a planetary body) that are moving into constellations. In astrology, it's significant when a planet enters a constellation/sign and even greater significance when it multiple planets entering a sign/s.
6/8 - Friday - Moon enters Pisces
6/9 - Saturday - Venus enters Cancer - Gann fan cross
6/10 - Sunday - Moon enters Aries
6/10 - Sunday - Mercury enters Gemini
Last time we had this many planetary events in a 4 day time period was during Consensus 2018 last month.
Next there's June 18th... as in 6/18... (Golden ratio anyone?) and this day is at the apex of the pennant that we are forming from our run up to 20k. Fun fact: Kepler characterized Harmonics Law on May 25th, 1618. Nice timing with that year, Keppler! Also, May 25th is when the Buddha's birthday is celebrated.
6/18--- Neptune Retrograde - I've been trying to understand how different planets could affect price action and I'm afraid I don't have enough experience to talk about Neptune retrograde in that regard. What I can say is that Neptune retrograde is a wake-up call to the delusional fantasizers. The big question is who is delusional; the bears about the price dropping or the bull greedy for the moon?
Gann Fan - so in a previous chart I published, about how hype 4/20 is going to this year has a Gann fan apex/wedge/crossing at 4/20. If you press play, bitcoin literally drove right into the wedge, continuing upward. It's not at cleanly depicted in this chart bc scale has things slightly off, but subsequently parallel to the 4/20 apex is a Gann fan apex at 6/18. What does that mean? mmmm, I'm counting on the Bearish 5 Drives harmonic to play out.
6/26 - Mars goes retrograde - This isn't looked as favorable but we shall see how it goes.
7/7 - Mercury enters retrograde zone - This should be daytrading- short term bearish.
7/10 - Jupiter goes direct - bullish. Planet of wealth, abundance, expansiveness goes direct is a good sign. When mercury went direct (4/15) we took off. 5/3 - Mercury left the retrograde zone and that day is associated w one of our double top/highs from the April bull run. We also have a Gann fan cross on 7/10 reinforcing the significance of that day.
7/13 - partial solar eclipse - historically a bullish event. Significance reinforced by a Gann fan crossing.
7/26 - Mercury goes retrograde - Bearish
7/27 to 28 - Total Lunar Eclipse - Bearish
I use astrology to find confluence in the story that's being told w price action. I am very much a novice and appreciate you hanging around to read the end. :)
Short-term bullish 5-0 pattern right after long-term "bat"Once again, as soon as we learned a new pattern, we(@iDC_INC on twitter, @idcinc on steemit) were able to find it immediately in the bitcoin chart. It's not perfect, as the AB leg briefly goes a little lower than it would have ideally, but it's pretty damn close. This is just to serve as extra confirmation of the bull trend we've been anticipating, and that seems to be playing out.
0-5 Short then Long in BTCBTC is probably going for a 0-5 pattern. At first I will try to short in the area between 8700 and 8800 for a move down.
I will update with the progress or invalidation.
n00b at Advanced paternsHi, please do not see this as trading or financial advice.
I'm just shooting posible patters.
Cheers, best regards.
Descending Triangle, Volume are down,Big pictureThis is a macro look, we will take a look at Descending triangle a little closer.
We are in a Descending triangle, and things are not looking good as we are entering 5 weak,
Unless breakout happens - a robust one - a lot of buyers will be holding BTC instead.
D and A serving as a strong support Prices entries.
We are still in a up trending channel, and this coin will burst into action soon enough.
We have a lot of support when this will be cheaper to acquire when BTC will costs more.
If we ever get to 2 or 4 below the D and A support.
Accumulating at these levels is advisable.
Leaning Short, not in value, but relative to BTC.
/*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
If you want your coin to be analysed, please PM me.
Thank you,
Ajion
USD/CAD - Bearish 5-0Continuing with the majors before moving onto the crosses, I am monitoring a bearish 5-0 on the USD/CAD. Even without the harmonic ratios, price has made a clear head and shoulders, broken the neckline and is now re-testing the neckline as resistance. As per usual with a bearish 5-0 pattern, I will be on the looking for any reversal candles (hanging men/bearish engulfing) before price reaches the 0.618 retracement level of the previous wave.
Next week, Tuesday 1st of May, we will see the release of Canadian GDP data. This announcement can be very volatile so the trade must be managed effectively- I will give further updates as this move progresses.
5-0 Ratios
B = 1.13-1.618
C = 1.618-2.24
D = 0.5
A speculative bearish OIL scenarioOil failed at a double 161% extension. Which means potential 5-0 / Shark patterns ongoing. Speculative of course. Any break above recent high ($70) and it's invalidated
BTCUSDT This is some Advanced Pattern This is some Advanced Pattern
Butterfly Pattern After Complete We Have
Shark Patten and After Shark Complet He
Can Be 0-5 Ho Correct in 50% Fibo
after Complete The Shark and 0-5 Pattern
we have Deep Crab Pattern with 2 Extenssion
Good Luck
Alternate Shark @ .9750!!!Shark pattern is a combination of a ‘failed’ wave, an extreme harmonic impulse wave and the famous 0.886 retracement.
RULES:
B point needs to be in range of XA projection – minimum 1.13 but NOT exceed 1.618
C point needs to be in range of AB projection – minimum 1.618 but NOT exceed 2.24
C point at 0.886 0X (not 0B) retracement or 1.13 0X projection
We have the freedom to choose swing 0X to create the most compact zone for C point. 2 elements define PRZ:
0.886 0X retracement (not OB) or 1.13 0X projection, which ever gives the most compact zone. Sometimes you would need to eye for both PRZ to see how the price reacts to each level and decide if you want to trade it.
AB Projection
Alternate Shark > Entry @ 78.85The Shark pattern has the following ratios.
AB leg extends OX leg between 113% – 161.8%
BC leg extends beyond O by 113% of the OX leg
BC leg is also an extension of AB by 161.8% – 224%
Bearish 5-0 Pattern ..l.. ()(-_-)() ..l..5-0 PATTERN
"The 5-0 pattern is a distinct 5-point reversal structure, discovered by Scott Carney that typically represents the first pullback of a significant trend reversal. It is a relatively new pattern with 4 legs and specific Fibonacci measurements of each point within its structure, eliminating room for flexible interpretation. The following measurements define the pattern: the AB leg should be a 1.130 to 1.618 extension of the XA leg. The BC leg should be a 1.618 to 2.240 extension of the AB leg. The CD leg should be 0.500 retracement of the BC leg and it includes a reciprocal AB=CD pattern. With this, the Potential Reversal Zone (PRZ) is defined differently from other harmonic patterns.
Conservative traders look for additional confirmation before entering a trade. The 5-0 pattern can be either bullish or bearish. Targets can be set at the discretion of the trader as the reversal point could be the start of a new trend. Common stop levels lie behind a structure level beyond the D point or the next important level for the Fibonacci sequence."
Shark > Possible 5-0 > Weekly Watch List The Shark pattern has the following ratios.
AB leg extends OX leg between 113% – 161.8%
BC leg extends beyond O by 113% of the OX leg
BC leg is also an extension of AX by 161.8% – 224%
Unlike other harmonic patterns, the trades are entered as follows:
Entry is at 88.6% of OX leg with stops coming in at point C
Targets can be 61.8% of BC
Bearish 5-0 Pattern Completes @ 150.80Basic 5-0 Requirements
Although the pattern incorporates 5 points within the structure (X, A, B, C, D), the starting
point of the structure (0) can be the beginning of any extended price move. However, the
initial point X must possess a specific alignment with respect to the A and B point. The X, A ,
B formation of the structure is usually some type of impulse move. The XA projection that
defines the B point can not exceed a 1.618. Any extension greater than a 1.618 will negate the
structure, as smaller impulse moves are preferred. Again, this is the failed wave 3 or wave 5 –
in Elliott Wave terms – that establishes the rest of the structure.
The BC leg is the longest price length of the structure and must be at least a 1.618 extension
of the AB length but it must not exceed 2.24. This tight range of 1.618-2.24 is a defining
element of the structure. If the 1.618 minimum limit is not reached, the structure is not a valid
5-0.
After the BC leg has reversed from that zone, the 50% retracement is measured from the B
point to the C point. In addition, the Reciprocal AB=CD is projected from the C point (an
equivalent length of the AB leg) to compliment the Potential Reversal Zone (PRZ). The
following illustrations and examples will clearly explain these concepts.
The 5-0 Pattern By Scott M. Carney
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