BTC: My student ask me about my odd chart Harmonic and H&S

Question:
Teacher Quan: May I ask if we follow the harmonic chart, then the chart for vdv fails at the 89th minute, right, whoever is short at 12k is going to fight their ancestors?

Answer:

When the market is showing signs of decline, all high buyers who expect the price to return to a certain area will exit, it will happen 2 cases.

Case 1: Usually it will go sideways for about 3 to 7 days and then fall further because fear is covering the whole market

Case 2: The selling when the price increases, in contrast, is the condition that pushes the price up again. Usually a 2 vertex pattern is created. That means once again the price of BTC reached the 12k zone.

Here we are forced to make a choice. if btc break the previous peak it will follow the harmonic up to about 16k in that time frame.

On the contrary you will experience a strong sell-off at the 0.5 to 0.7 Fibonacci retracement of the 12k5 to 9880 measurement that push the BTC price down further.

Good luck and safe trade.

Do Quan.

Komentar:

H&S chart

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Harmonic chart