for today's Intraday trade we'll be shorting BITCOIN at $7450
please wait for the price of render at INTRA R1 in order to validate this pattern
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Cypher Pattern Worked Perfectly!
Ain't it Beautiful? :D
Identified on M30 Chart!
(What's your move?)
Good eye spotting this cypher, but your BC move cannot have a candle close beyond 1.414. Try using the cypher tool when drawing sharks or cyphers, not the standard XABCD tool which can be used for all other harmonics. You'll see the cypher tool gives us a BC move of 1.429 when C is placed at wick, and as long as the candle doesn't close beyond 1.414, the 1.429 at the wick is still valid.
Sorry for nitpicking, it's very close and you'll still end up with the same targets for the drop but just wanted to let you know for future reference :)
What I was trying to point out is that 1.789 value is way out of range for a cypher and I'm assuming that is because you used the XABCD tool, not the cypher to.
When you re-draw with cypher tool, it gives the correct value to be a cypher.
I was making the same mistake for a while until someone more experienced with harmonics pointed that out to me and helped me out. Hopefully this helps you too :)