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
