Bitcoin: BTCUSD Bullish Gartley Pattern (Part 2)
Updated
This large, bullish Gartley pattern is nearing completion and indicates that price will begin to climb soon. I have set out the pattern with point D very near to 9000, so will be looking for price to drop to there before going long, targeting the 61.8% level of X to C. I will activate the trade once I believe the pattern is complete.
This is part 2 of this idea, I originally spotted the pattern on 8th Jan and managed to get a short position in to profit from the major selloff.
This is part 2 of this idea, I originally spotted the pattern on 8th Jan and managed to get a short position in to profit from the major selloff.
Comment
Oops! Please ignore the blue horizontal lines, they are nothing to do with this trade setupComment
Looking for any reversal signs here, we are not at D yet but we are close enough to be worried about missing our entryComment
hmmm, BTC catching a bid at the moment. Don't want to miss the move but I'm not yet convinced enough that the downtrend is doneComment
I'm going to open an order to buy at 10,000. Will update if I feel the need to open manuallyComment
I forgot to update before but if you refresh the chart you can see that BTCUSD came right up to our target level before reversing :)Related publications
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