STEEMBTC Bullish Deep Crab Deeper AnalysisThis is a continuation of my analysis on the STEEMBTC pair on the 120 minute timeframe. Please see below for previous analysis on this pair.
After Looking at the STEEM/BTC pair I realized I was too premature in my entry last night and should have been more patient and waited for the Deep Crab to fully complete and for price to test all levels of the PRZ before entering my trade. This is a must in harmonic trading as taught by the inventor of Harmonic Trading Scott Carney. Had I stuck to the rules I could have obtained a much better entry and risk to reward ratio. What I learned from this is... always stick to the plan!!
When doing my analysis, I found some nice fib confluence that could act as support. As a result, I moved my stop loss accordingly and planed for new downside targets in case the deep crab fails. My targets remain the same. If this area fails I expect to see downside to the 1.618 projection in the 0.00179 BTC area.
