Potential Bullish Gartley forming on Bitcoin.
Updated
We had a bearish retest of my pivot box into fast selling pressure and multiple other patterns that lead me to believe this rally was a bulltrap for another leg down.
Target for gartley: ~31800. My nearest significant support to that is at 31875. The harmonics are never exact.
Target after the bounce is at 39540 where i have very significant resistance at that area.
There is also another very strong support level at 32250 to watch out for if we do come down there.
if we consolidate above the 39450 and break that consolidation to the upside i'll be lead to believe this is consolidation. If not then possibly big bulltrap to break the range to the downside.
Target for gartley: ~31800. My nearest significant support to that is at 31875. The harmonics are never exact.
Target after the bounce is at 39540 where i have very significant resistance at that area.
There is also another very strong support level at 32250 to watch out for if we do come down there.
if we consolidate above the 39450 and break that consolidation to the upside i'll be lead to believe this is consolidation. If not then possibly big bulltrap to break the range to the downside.
Note
edit: my bottom golden level should be 31687 not 31874
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.