BitcoinLong
BTC/USD -> Potential Bullish Gartley Forming (Novice Analysis)
Potential Bullish Gartley printing out for BTC/USD
Fibonacci retracement levels put B just past .618,
yet not touching .786 which would invalidate it
C is in the appropriate range for validating the top of
the right wing by not going above the A impulse
The Fibonacci extension from A to B places the 1.272 range
too far from the .786 retracement for me to believe
we'll make a move back up as soon as we touch $8,830
Hence why the potential entry point is set at ~$8510
where (approximately) I believe the Gartley will complete
its formation, slightly increasing R/R as well
Stop set tight below X
First target is C
Fibonacci retracement levels put B just past .618,
yet not touching .786 which would invalidate it
C is in the appropriate range for validating the top of
the right wing by not going above the A impulse
The Fibonacci extension from A to B places the 1.272 range
too far from the .786 retracement for me to believe
we'll make a move back up as soon as we touch $8,830
Hence why the potential entry point is set at ~$8510
where (approximately) I believe the Gartley will complete
its formation, slightly increasing R/R as well
Stop set tight below X
First target is C
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