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JayBeckner
Jan 21, 2018 12:48 AM

Harmonics Working in Bitcoin Short

Bitcoin / U.S. dollarBitstamp

Description

My Bearish Gartley chart,
before the crash, correctly forecast the level at which BTCUSD hit bottom last week. Now, the cryptoasset is (likely) moving through an ABCD pattern, toward the 0.618 Fibonacci level at $14,175 (at risk if price crosses the green B/C line before). Once there, sellers should attempt another push toward the previous low ~9,200. If so, symmetry implies the market for Bitcoin could be ~6,270 early next month.
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