Overnight, BTC had an amazing bounce off the trendline which formed from the recent 6.4k bottom.
However the bounce at 8.8 was 4/5 steps for a Bearish Gartley pattern.
The 5th step is a hit on the 1.272 fib level approximately at 9500.
If we fail to break past $9500, and then break that upwards trendline, I would expect a C wave to be added to this recent Bitcoin correction.
My final correction target being around 8.4k.
Smaller targets are shown on the chart above.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
However the bounce at 8.8 was 4/5 steps for a Bearish Gartley pattern.
The 5th step is a hit on the 1.272 fib level approximately at 9500.
If we fail to break past $9500, and then break that upwards trendline, I would expect a C wave to be added to this recent Bitcoin correction.
My final correction target being around 8.4k.
Smaller targets are shown on the chart above.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
