Short

Bitcoin 4hr Bearish Gartley formed. Possible drop incoming.

Updated

Another Bearish Gartley formed from the drop of the one earlier this week.

This one is on the 4h and from a bearish drop, so we know it's legit. Unlike the last one in a tiny time frame, outside of swing patterns.

Double top on RSI with lower price. Volume shows divergence from price raise.

Projected price target - 7400-7500.

All feedback is appreciated.

Happy Trading.

-SJ

Note

Uptrend line suggests the price will likely only go as low as 8k before a bounce. If that far.

Unless we have a serious breakdown in volume.

Bloomberg warning of a death cross on TV constantly isn't helping.

Note

Well. Dump o'clock happened this morning again. Here we are, on the 300 EMA. Hanging on for dear life.

Note

Almost there, by $100. Currently it's hitting the .618 fib as resistance.

saadcrates

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