Bitcoin’s Shark Harmonic Pattern signals Potential All-Time High
The Shark Harmonic pattern is a complex trading structure that uses Fibonacci levels and geometric shapes. It’s a bearish pattern, but it can lead to a bullish surge before the final leg. Bitcoin (BTC) is showing signs of this setup.
Bitcoin’s price is forming a Shark Harmonic. This pattern suggests a possible new all-time high before the final decline. Traders should watch for this.
Here are the key points:
- Bitcoin may hit a new peak before the final drop.
- Traders can capitalize on the bullish phase.
- Patience is crucial as the market consolidates.
bitcoin’s price is shaping up like a Shark Harmonic. This setup usually comes after a period of stability. It has four stages: X, A, B, C, and D. Right now, Bitcoin is near the end of stage C. If it breaks through, it could reach new highs.
Stage C often tops near the 0.886 or 1.13 Fibonacci extension of the XA leg. In Bitcoin’s case, this could push prices to $110,000.
Traders can use this for profit. The pattern relies on Fibonacci numbers and geometric price moves. The current price action hints at a strong rally. It might hit $110,000 before reversing.
Several factors support this prediction. The price is near critically important Fibonacci levels and othre technical zones. These areas act as strong resistance. If Bitcoin breaks above these levels, it could surge. This setup is rare and powerful. It combines Fibonacci ratios with price action. The current price is near key Fibonacci zones. It’s also near auto block support and single print areas. These areas are crucial for confirming the pattern.
How to trade this? Wait for a swing low to form. This creates a swing failure pattern. It’s a good entry point for long positions. The goal is the all-time high.
For traders, this is a chance to profit. But, caution is needed. The market may stay in a tight range for a while. This pattern is a bearish signal. Yet, it often triggers a bullish move first. This makes it a unique prospect. the 0.618 retracement, a key auto block support zone, and a single print area, a trifecta of powerful technical levels. A breakout above the dynamic trendline overhead would further confirm bullish expansion into the leg C target zone. Until that happens, traders can expect continued consolidation, ideal for range-bound or scalping strategies.
How to trade this pattern:
The most strategic entry comes after a swing low is taken out, forming a swing failure pattern (SFP) setup. this offers a clear invalidation level and a clean entry signal. From there, traders can enter long positions targeting the all-time high region—holding until signs of exhaustion emerge near the leg C top.
