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Bearish Gartley

BTC/USD - Obstacles AheadBitcoin is still very bearish as you can see from this chart above. The latest higher low on the 4H chart provides a glimpse of hope for the bulls but this needs to be followed up by breaking above downtrend resistance lines and horizontal resistance levels shown on the chart. 14,000 will likely to be the most significant level to break because it is where a confluence of bearish factors come together: bearish Gartley completion, previous horizontal resistance, previous downtrend line. It is also an important big even number. Of course, we can reverse even sooner. The lower downtrend line seems to be a strong obstacle on its own. This aligns with the 11,900 horizontal resistance level. Thus, we can retest the double bottom before testing the resistance levels above. What we know for sure is that price needs to break these levels if it is to go higher. When that happens, I don't know. Thanks! :)
BITFINEX:BTCUSD
by pjims
$BTCUSD fall is not over yet$BTC fall is not over yet in my opinion. The cross will likely turn bull temporarily to let the market brethe but will soon revert into the third wave and the cross could lose another 20% or more till it reaches its next support level around 8000$. From there, even if it is too early for a "prediction", seems like the market could return bull since the chart is forming a sort of bearish Gartley. Foundamentally speaking seems like governments (China, South Korea and even France) are more and more trying to "hard" regulate the crypto market and especially exchanges. This is not entirely a bad thing if you think about it. Putting your money at stake in highly unregulated exchanges where liquidity is not granted, may put investor at an even higher risk than investing in an highly volatile market. Although big players (professionals) are into the market we need to take into consideration that lots of small unexperienced investors joined it given the hype around such a commodity. There are lots of money at stake in the market and a crash or the failure of some exchanges can create a contagion effect that will hurt the economy as a whole. Be advised. As usual, this is not a trading advise, just my idea and analysis.
BITSTAMP:BTCUSDShort
by SteveEnnom
6
AUDCHF short potentialBearish Gartley in the making on the 1-hour timeframe. Huge divergence in play and trendline breakout could create a significant move down. 1) Never risk more than 2% of your account. 2) Try to be emotionless by applying your strategy to the pip. 3) Invest to yourself and then your capital. Try to educate yourself along with the signals and enhance your risk intelligence and your perception on how Markets work. 4) You do not have to be extremely precise to be highly profitable as long as you take the set-ups with big R/R.
Short
by InvstingWise
BTCUSD correcting after a bearish gartleyThe daily market for BTCUSD , after forming the bearish Gartley I reported in a previous chart, is correcting. If the figure completes "by the book", the target price should be around 11000$. It is indeed unlikely to reach that level given the volatility and the tumultuous market so I traced that level as a strong support. It seems more likely that the drop will stop at an intermediate support (dotted line) to possibly revert the trend and become bullish.
BITSTAMP:BTCUSD
by SteveEnnom
Harmonic Pattern in Wave 2 As I am plotting out possible senarios to this complex correction on the 240M Chart, I am having to get into the lower time frames to help me sort out these movements. I see on the higher time frame (240M) : -Impulse completed.---Then price makes a wicked irregular Flat, breaking the top of wave 5 and falling pretty far. -Price then rose to the 61.8% fib of the complete initial fall. This happen over a series of complex correction combinations. -Inside this correction seems to be a harmonic pattern (gartley?) I used the wave C of the first irregular flat as the impulse wave. (see Gartley? post) This puts the end of harmonic pattern at B of a higher degree. Which means wave C is coming.. ON 15 MIN TF - we have completed 5 wave move down in a lower degree. -an ABC correction up and I am looking to complete another harmonic pattern in the same degree. Note I am learning. I use this as a means to excersise my analysis skills. I can be wrong and invite input.
COINBASE:BTCUSDLong
by MoneyMovers