Harmonics Working in Bitcoin
My Bearish Gartley chart, published before the crash, correctly forecast the level at which BTCUSD hit bottom last week. Now, the cryptoasset is (likely) moving through an ABCD pattern, toward the 0.618 Fibonacci level at $14,175 (at risk if price crosses the green B/C line before). Once there, sellers should attempt another push toward the previous low ~9,200. If so, symmetry implies the market for Bitcoin could be ~6,270 early next month.
Disclaimer
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.