Bitcoin has been in a decent sized retracement since making a high on 5ht May at more or less the 61.8% fib (B in the potentially forming Gartley). Now $7158 is the price level which really has my attention as it could be C in the Gartley pattern. If that turns out to be the case then many many other Cryptos which are looking for a place to create their C before moving up to D can follow bitcoin.
I am really hoping this is the case as I have a number of really interesting C D legs to trade on other Cryptos!
I am really hoping this is the case as I have a number of really interesting C D legs to trade on other Cryptos!
Note
Bitcoin had a nice run up (circa 10%) last week getting back up to the weekly central pivot.Now price seems to be heading back down towards this weeks central pivot. I hope it touches it, then uses it as support before moving on to higher highs.
Let's see how this week plays out.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.