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
On your chart, B to C looks like it violates the extension limit of 1.414 - fwiw. On Bitstamp though, still looks good:
DanielParra99
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@ninjabenja, Nice I can see that, lets hope our pattern gets completed... nice indicators by the way, I see you get more confirmations.
Appreciate your comment!