ONTBTC LONG GARTLEY PATTERN
The trend based fib extension on the first bullish gartley(purple, ~june 1st till ~june 24) gave us the 50% extension/retracement on june 25/26 and the start of a smaller second bullish gartley (red, ~24 june till ~3 july). Things are looking good for a breakout on the bearish channel that started around ~june 6.
First primary targets are the 61% on the trend based fib from the second gartley that coincides with the 50% on the trend based fib from the first gartley, around 9k sats.
Second primary target is the 168% on the trend based fib from the second gartley that coincides with the 100% on the trend based fib from the first gartley, around 11k sats.
Depending on your entry, first target is 10 - 15%+ and second target is 40 - 50%+.
Resistance targets could be 9k and 10k sats.
Tight stoploss would be around 7.4k sats, just under low of july 3rd.
Wider stoploss would be around 6.8k sats, just under low of june 24.
Upon reaching profit targets, I expect us to form a bearish gartley (green) and from there on probably retrace atleast 50%.
First primary targets are the 61% on the trend based fib from the second gartley that coincides with the 50% on the trend based fib from the first gartley, around 9k sats.
Second primary target is the 168% on the trend based fib from the second gartley that coincides with the 100% on the trend based fib from the first gartley, around 11k sats.
Depending on your entry, first target is 10 - 15%+ and second target is 40 - 50%+.
Resistance targets could be 9k and 10k sats.
Tight stoploss would be around 7.4k sats, just under low of july 3rd.
Wider stoploss would be around 6.8k sats, just under low of june 24.
Upon reaching profit targets, I expect us to form a bearish gartley (green) and from there on probably retrace atleast 50%.
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