Technical analysis by Who-Is-Caerus about Symbol BTC: Buy recommendation (1/17/2025)

The XABCD pattern is a popular harmonic chart pattern that helps traders identify potential reversal zones in the market. It uses specific Fibonacci ratios to map out price movements and predict turning points with a high degree of accuracy. These patterns are advanced technical setups that require precise measurements and a strong understanding of Fibonacci retracement and extension levels. What Is the XABCD Pattern? The XABCD pattern consists of five key points: X, A, B, C, and D, each representing a specific price level on the chart. These points form a series of swings that create a geometric shape, such as a triangle or a batwing. The pattern is validated by the relationships between these points, which adhere to strict Fibonacci ratios. The XABCD pattern is often classified into different sub-patterns, including Gartley, Butterfly, Bat, Crab, and Shark patterns. Each variation has unique Fibonacci requirements. Key Components of the XABCD Pattern Point X to A: Represents the initial price move, either bullish or bearish. This is the longest and most distinct swing in the pattern. Point A to B: A retracement of the XA leg. Typically retraces between 38.2% and 61.8% of the XA leg. Point B to C: A counter-trend move against the AB leg. Usually retraces 38.2% to 88.6% of the AB leg. Point C to D: The final leg of the pattern, known as the completion leg. The D point typically represents a Fibonacci extension of the XA leg or a retracement of the AB leg, depending on the specific pattern. The above is a Gartley Pattern: Point B retraces 61.8% of XA. Point D completes at 78.6% retracement of XA. Highly reliable for predicting reversals in trending markets. Target Fibonacci extensions at 1.0 and 1.618 of the AD leg for profits. 1 has been hit. The RSI suggests more price movement upwards to come as its not over bought, which leads us to the next target 1.618 Fib extension at around $135,000