Bitcoin Analysis 4/27/22 Pt 3 (Potential Bearish Cypher)
BTCUSDT Perpetual Contract BYBIT:BTCUSDT
I believe this could be a Bearish Cypher pattern. I’m not an expert with harmonic patterns and I don’t think these patterns are too reliable with crypto, they are more common in Forex I believe.
By using the Fib Time tool it’s telling me we could reach the price target of this pattern$45.3k by March 7th. Then supposedly the following price target is $32.8k.
Again, from my experience with Harmonic Patterns most of them didn’t play out, but it’s still good to practice identifying them and hoping they work out.
