BTCUSDT and USDTBTC price action VS harmonics
BTCUSDT:
The BTCUSDT by market value picked up a bid at $3,210 three days ago a level last seen in September 2017.
The prices are currently down more than 80 percent from the record high of $20,000 reached last Dec 17.
Further BTCUSDT has depreciated close to 47 percent in the last month, forming record oversold conditions, as a result, BTC has potential to test $2,817 (September 2017 low) in the near term and this price testing can be a make or break for BTC whether it will be bounced and bullish and go for $5,000+ or go for next low which can be $2,500 to $1826.
USDTBTC:
On other hand I found some thing optimistic. I usually see currency's moves through harmonics whether it is crypto or fiat because I believe that harmonic patterns play 80% role in currency's movements and here I placed the chart of USDTBTC (which you can see on left side) rather than BTCUSDT as the USDTBTC which is calculated by tradingview is showing a clear picture of bullish cypher , here you can see that the price action has already touched the sell zone and formation of C to D leg can be started any time which will lead to bullish divergence of BTC against USDT insha Allah. The RSI condition is already over bought which goes in favor of pattern.
Hope for the best and regards,
Atif Akbar (moon333)
The BTCUSDT by market value picked up a bid at $3,210 three days ago a level last seen in September 2017.
The prices are currently down more than 80 percent from the record high of $20,000 reached last Dec 17.
Further BTCUSDT has depreciated close to 47 percent in the last month, forming record oversold conditions, as a result, BTC has potential to test $2,817 (September 2017 low) in the near term and this price testing can be a make or break for BTC whether it will be bounced and bullish and go for $5,000+ or go for next low which can be $2,500 to $1826.
USDTBTC:
On other hand I found some thing optimistic. I usually see currency's moves through harmonics whether it is crypto or fiat because I believe that harmonic patterns play 80% role in currency's movements and here I placed the chart of USDTBTC (which you can see on left side) rather than BTCUSDT as the USDTBTC which is calculated by tradingview is showing a clear picture of bullish cypher , here you can see that the price action has already touched the sell zone and formation of C to D leg can be started any time which will lead to bullish divergence of BTC against USDT insha Allah. The RSI condition is already over bought which goes in favor of pattern.
Hope for the best and regards,
Atif Akbar (moon333)
Operación activa:
I think with the grace of Allah the most high the formation of C to D leg is going to be started insha Allah.
Operación activa:
Alhamdulillah seems to be that the USDTBTC cypher's C to D leg's formation has been started if this leg will be completed then the BTCUSDT can go upto 4717 to 5180
Operación activa:
USDTBTC likely to form a head and shoulder pattern which will help to complete this cypher insha Allah
