BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After a sudden drop in Feb,19 (marked blue) bitcoin started printing hh's and hl's. This indicates an uptrend (marked black). It already recovered 70% of the drop . Typically, a correction takes 30-50%. When you have a movement recovering 70% chances are that it is not a correction anymore but a reversal.
In UG setup rules we wait for price to go deeper and hit 78.6% correction level to get an extra confirmation of the trend. If this happens most likely the downtrend drop will be totally recovered and a new high will be installed

list of terms:
UG: Unified Gartley .
hh: Higher High.
ll: Lower Low.
This pattern was found by the MPS-v5.5 pattern recognition software: https://mps-trade.com

My YouTube channel: https://www.youtube.com/user/alexniquitos/
Fully agree. Although I think we can even head to 3850 before 4200.

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smotri
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Excellent explain on the chart now! thanks Alex for the insightful information =D
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@ICEKI, welcome
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@Namah-Te, thanks for your comment
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Namah-Te Alexander_Nikitin
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