Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618 (on this case B is at 0.5)
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
At this point I expect Bitcoin to be bullish all the way to 0.786, where pattern will be completed for bearish impulse .
Scroll down to related ideas and open up NZDJPY if you want to see similar Cypher Pattern.
Good trading. -4h Chart
- A to B must touch 0.382 but cannot exceed 0.618 (on this case B is at 0.5)
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
At this point I expect Bitcoin to be bullish all the way to 0.786, where pattern will be completed for bearish impulse .
Scroll down to related ideas and open up NZDJPY if you want to see similar Cypher Pattern.
Good trading. -4h Chart
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.