BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
gartley just completed on btc usd. already had some small reaction to the downside and now price came back almost to the gartley completion point. If it breaks the D-point high then expect further upside move up to the X-point level. Else nice sell setup is in play.
Trade closed: target reached
Comment: target 2 is almost there...
This pattern was found by MPS-v5.5 pattern recognition software:

The backtest of this pattern was performed by MPS-v5.5:

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great idea, Im still wondering how you set retrace levels, and fibs.... and this makes it a greater idea hahaha
Key level for selling is $10.6k CME gap formed last week. After that I think we can easily rebound to 13k and above. Check out my chaet updates for more clarity.

Nice analysis, but I have to disagree with you this time my friend, I see bitcoin breaking up out of its pennant and retesting prior highs if it holds 11500!
Nice work Alexander!
Nice, I found this pattern too :)
Are you just using Gartley pattern or using other tools to confirm?
@billtolast, only gartley. to my mind the pattern doesn't worth trading if it needs confirmations.
+1 Reply
hi, the price heading lower again
My main EW count is in agreement with your assessment, except I'm looking for a lower low before we go back to the races. To me it looks like a WXYXZ in the process of starting the final Z wave down. I'll be looking to buy @ 8600, unless the coming price action invalidates my count.
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