BITCOIN BULLISH GARTLEY
Updated
Bitcoin Bullish Gartley analysis
AB = 0.618 retracement of XA
BC = 0.382 to 0.886 retracement of AB
CD = 1.272 to 1.618 extension of BC
AD = 0.786 retracement of XA
However, the level of BC = 0.896 is quite close to 0.886, which is a commonly accepted retracement level in the Gartley pattern.
While 0.896 is not a standard Fibonacci level, the proximity to 0.886 can still be considered valid in the context of the Gartley pattern, especially if other aspects of the pattern (such as the XA and AB retracements and the CD projection) are in alignment with the typical Gartley structure.
Moreover this is considered as valid and bullish, invalidation level is below CD leg of 1.618.
Disclaimer: This is intended for educational purposes only and should not be considered financial advice.
AB = 0.618 retracement of XA
BC = 0.382 to 0.886 retracement of AB
CD = 1.272 to 1.618 extension of BC
AD = 0.786 retracement of XA
However, the level of BC = 0.896 is quite close to 0.886, which is a commonly accepted retracement level in the Gartley pattern.
While 0.896 is not a standard Fibonacci level, the proximity to 0.886 can still be considered valid in the context of the Gartley pattern, especially if other aspects of the pattern (such as the XA and AB retracements and the CD projection) are in alignment with the typical Gartley structure.
Moreover this is considered as valid and bullish, invalidation level is below CD leg of 1.618.
Disclaimer: This is intended for educational purposes only and should not be considered financial advice.
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