Hi,
Bitcoin completed a classical AB=CD pattern in daily TF (0.618/1.618)
Still short from $5836.
When drawing fibonnacci from low at $900 to last high at $6200, we can notice that ratios from gartley structure have nice confluences with previous support/resistance area.
Gann fan, as a guide to project the gartley pattern, is also useful in this case.
Not really a trade idea for now (need a serious retracement before), but if bitcoin drops below the $5000 psychological level, retracement to $2900 could be the target of the correction to complete the second leg of the Gartley.
Need time and confirmations to trade this idea.
Bitcoin completed a classical AB=CD pattern in daily TF (0.618/1.618)
Still short from $5836.
When drawing fibonnacci from low at $900 to last high at $6200, we can notice that ratios from gartley structure have nice confluences with previous support/resistance area.
Gann fan, as a guide to project the gartley pattern, is also useful in this case.
Not really a trade idea for now (need a serious retracement before), but if bitcoin drops below the $5000 psychological level, retracement to $2900 could be the target of the correction to complete the second leg of the Gartley.
Need time and confirmations to trade this idea.