BITCOIN TO 4800$

Hi guys spotted the following pattern on BTC

1. Bearish Butterfly Harmonic Pattern
2. Rising wedge Pattern(Usually lead to breakdown)

Below are basic facts about BUTTERFLY PATTERN

Butterfly Rules

AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone

3 elements define PRZ:

1.27 extension XA ( the most important)
BC projection – we choose the projection which gives the most compact PRZ
AB=CD or its alternatives.

With this above pattern analysis we should see BTC at the region of 4800$ sooner or later.

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We earlier talk about Bullish flag and pole that targeted at 4800$ with this making the target to be stronger.

We talk about potential CUP formation also

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Spotted this Ascending triangle on BTC let see how it develop if it will play out. target is around 4200$

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Little time for retracement before next leg up

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