We already have an open trade on Bitcoin, but i wanted to post another way of interpreting the pattern we are forming here
Our 4HR bullish dragon trade setup is the ABCD of the Bullish Gartley in this chart
This pair of Gartleys (Bearish, and then Bullish) is confluent with the same levels we are looking at for our other Bitcoin trades and charts.
We would want to see a reaction at the 1.272, which is confluent with the bottom of this range. and a level we have reacted at in the past., but the Gartley can reach as far as the 1.618, but i dont think thats likely in this case because the .786 is already past the 1.272 in this circumstance, though that would likely give us a nice 1.13 rejection.
If the RSI continues to gain strength, we will form a nice drive of bullish divergence on the completion of the bullish gartley.
There is so much confluence in these charts, and time frames, that all give a similar implication of upside.
That does not make it certain but surely it delivers a better argument. The best idea in any trade would be to wait for a confirmation, or ideally, in the case of harmonic trading, youll want to see a reaction, and then a confirmation low after the Gartley completes. Im not sure we will get the opportunity in this case because of how powerful the reactions have been at those levels.
Our 4HR bullish dragon trade setup is the ABCD of the Bullish Gartley in this chart
This pair of Gartleys (Bearish, and then Bullish) is confluent with the same levels we are looking at for our other Bitcoin trades and charts.
We would want to see a reaction at the 1.272, which is confluent with the bottom of this range. and a level we have reacted at in the past., but the Gartley can reach as far as the 1.618, but i dont think thats likely in this case because the .786 is already past the 1.272 in this circumstance, though that would likely give us a nice 1.13 rejection.
If the RSI continues to gain strength, we will form a nice drive of bullish divergence on the completion of the bullish gartley.
There is so much confluence in these charts, and time frames, that all give a similar implication of upside.
That does not make it certain but surely it delivers a better argument. The best idea in any trade would be to wait for a confirmation, or ideally, in the case of harmonic trading, youll want to see a reaction, and then a confirmation low after the Gartley completes. Im not sure we will get the opportunity in this case because of how powerful the reactions have been at those levels.