Back
Bitcoin

Daily Bearish Deep Crab Formation on BTC/USDT.


Killer Whale Crypto
Killer Whale Crypto
February 23, 2021, 5:32 PM UTC

Bearish Patterns in Bullish Trends can often underperform or fail entirely

This is not the most ideal formation for price action of Bitcoin in such an Uptrend. However as I have mentioned in the past Bearish Patterns in Bullish Trends can often underperform or fail entirely.... This particular pattern is concerning for the reason that these exact type of Deep Crab Patterns can become short term reversals. The Deep Crab is similar to the original Crab Pattern, as it is a 5-point extension structure that utilizes an XABCD formation. This Pattern has now come to its completion zone. Hmmm... Do not be surprised if there is a small 10-15% correction or at least some sideways action in the next week or two. This is not too concerning as we are certainly in an amazing Technical Landscape and positioned for price discovery on BTC in the near future. This is going to get very interesting friends.... very interesting indeed.

Killer Whale Crypto

Subscribe for the Latest Updates

* We do not spam or sell your info. Privacy Policy

Our Partners

Loading links...

View KillerWhale's Privacy Policy
Copyright Killer Whale 2021