Bitcoin’s Potential Shark Harmonic: A Macro Trade Setup Hello Traders, in this update, we are analyzing a new potential harmonic pattern forming on Bitcoin—the Shark Harmonic. This pattern is developing based on the recent rejection from the 0.618 Fibonacci retracement, which signals a possible move toward the 0.618 Fibonacci support. If this level holds, it will confirm the C-leg of the pattern, setting up a potential strong expansion toward the D-leg. This move could drive Bitcoin back toward its all-time high (ATH) before a possible reversal.
Once Bitcoin reaches the D-leg near the ATH, traders should watch for a potential bearish rejection. If this rejection occurs, it would activate the bearish phase of the Shark Harmonic, offering a high-probability short trade. These macro-level moves take time to develop, but this pattern provides clear trading opportunities for both long and short positions.
Key Technical Points to Consider
• Bitcoin’s recent rejection from the 0.618 Fibonacci retracement suggests a move toward 0.618 Fibonacci support, which will determine the activation of the Shark Harmonic C-leg.
• If price holds support at C, a strong expansion toward the D-leg could take Bitcoin back to the ATH before facing potential resistance.
• A bearish rejection at the ATH could trigger the short trade phase of the Shark Harmonic, offering a macro-level short opportunity.
Potential Scenarios & Conclusion
If Bitcoin follows the Shark Harmonic structure, the move from C to D presents a potential long trade opportunity, with price targeting the ATH. However, once price reaches this level, a strong bearish reaction could mark the start of a macro short setup, making this a key level to watch.
Traders should be patient and monitor how price reacts at these key Fibonacci levels. This pattern is unfolding on a high time frame, meaning confirmation is essential before executing trades. If price action respects the harmonic structure, it could provide a clear roadmap for both bullish and bearish trades in the coming months.