We have BTC coming down with a nice healthy retrace to the .618
Harmonic gartley playing out perectly
Currently holding a ling term trendline
Holding the top of value on VPVR
Bullish divergence in OBV and Willy
Histogram has a bullish div but still not confirmed
Long term buy zone in green (Between the .618 and .786)

What do I see happening: If we break this .618 fib and confirm this Gartly pattern the next target will be $5400 area.
We could bounce up from the 618 and then retrace to the 786 but from here I will be cost averaging my BTC all the way down to $5400 buying the green zone.

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Trade active: This is when I called the top and the Gartley pattern was playing out

Comment:

Comments

If you look at the monthly chart, you could draw a Harmonic Gartley with bitcoin going down to $1200.
+4 Reply
Excellent analysis.
+2 Reply
Cryptonite_trader maninthearena
@maninthearena, Thanks mate, really appreciate it
Reply
Nooooooooo your chart clearly points out a "bearish butterfly". At least volatility brings huge potential for gains.
+1 Reply
Cryptonite_trader TehObLiVioUs
@TehObLiVioUs, I hope I'm wrong
Reply
Seems like downtrend is broken! golden ratio was reached! but i would like to see that 0.786 fib :D
+1 Reply
Love your analysis. Top notch in every sense.
+1 Reply
@PETARN, Thank you mate, really appreciate it
Reply
Nice work!
+1 Reply
There's lots of confluence of a number of factors around your gartley target; 200 SMA on weekly has just crossed 5k mark.
I agree that this is a good place to accumulate for the long term; good luck!

Your charting is excellent by the way
+1 Reply