BitcoinShort
Bitcoin formed a Bearish Gartley. Likely going down further.
I noticed this last night, but... since we're in limbo right now, I figured it would be a good pattern to point out.
Point B retraced perfectly to the .618 fib level from the X-A move.
Point D retraced .786 from the XA move.
By all sound principles, this is a Bearish Gartley. And we should be on the way further down.
Remember, patterns are not laws. Anything can happen. Keep your stop losses tight.
Careful out there.
-SJ
P.S. - here's information about confirming the Bearish Gartley
dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/12/10/Learn_Forex_The_87_Year_Old_Chart_Pattern_That_Traders_Still_Love.html
Point B retraced perfectly to the .618 fib level from the X-A move.
Point D retraced .786 from the XA move.
By all sound principles, this is a Bearish Gartley. And we should be on the way further down.
Remember, patterns are not laws. Anything can happen. Keep your stop losses tight.
Careful out there.
-SJ
P.S. - here's information about confirming the Bearish Gartley
dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/12/10/Learn_Forex_The_87_Year_Old_Chart_Pattern_That_Traders_Still_Love.html
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.