Just noticed a gartley pattern on Bitcoin. The current price action looks corrective and this pattern could mark the beginning of a wave C in an ABC, or some more complex correction.
Note
Tiny inverse head and shoulders, with a neckline at target B. My guess is that hitting target A and maybe even 1.618 AD will be trivial. New year, new optimism. We'll see. I would move my stop loss at this point to $16.56kNote
5 Waves. Could be the sub 1 of a larger 5, or this 5 could extend. But, I bet we revisit lower levels, at least $16.6.
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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.