Hi fox hope you are well, on 4 hour chart after successful formation and taking the bullish divergence form potential reversal zone of Shark pattern the priceline of BEAR coin has formed another harmonic pattern and this time it has formed bullish Crab pattern and entered in potential reversal zone to move up.
The Pattern:
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Lest’s dig the pattern deeper to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 1.27 to 161.8 Fibonacci and now the price action is moving in potential reversal zone of this bullish Crab and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg.
Buying And Sell Targets:
The buying and sell targets according to harmonic Crab pattern should be:
Buy between: $19.29 to $18.55
Sell between: $19.86 to $21.27
Stop Loss:
The potential reversal zone area which is up to to $18.55 can be used as stop loss in case of complete candle stick closes below this level.
