Cypher Harmonic on BTC

Bitcoin / TetherUS BINANCE:BTCUSDT

Chahin073

What you see here is a Cypher Harmonic on the BTC chart. Trade should be on the .786 of X-A ( ~ 42.8k ).

Confluence for a short entry:
– Previously value area low (VAL) on the previously consolidation.
– .786 (X-A)
– 1.414 (B-C)
– Untapped Daily level
– Gann Fibonacci Fan

Target: 37.7k untouched daily level.

Take profits on ~ 41k and 39.8k.
Stoploss on validation on around ~ 44k. Reason for this is the Cypher pattern is not validated when it reach above the .786 of X-A.

Risk/reward ratio: 1 on 4.

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