I know a lot of people are wondering what's gonna happen next and are ready to buy around 8k. I just don't see it coming very soon. I am probably biased, because i have a bullish sentiment with respect to BTC, but here's another bullish pattern to think about: bullish gartley.
The rules are the following: "The above Gartley example shows an uptrend XA with a price reversal at A. Using Fibonacci ratios, the retracement AB should be 61.8% of the price range A minus X, as shown by line XB. At B, the price reverses again. Ideally, retracement BC should be between 61.8% and 78.6% of the AB price range, not the length of the lines, and is shown along the line AC. At C, the price again reverses with retracement CD between 127% and 161.8% of the range BC and is shown along the line BD. Price D is the point to buy/sell (bullish/bearish Gartley pattern) as the price is about to increase/decrease."
Resources: www.investopedia.com.../terms/g/gartley.asp
The rules are the following: "The above Gartley example shows an uptrend XA with a price reversal at A. Using Fibonacci ratios, the retracement AB should be 61.8% of the price range A minus X, as shown by line XB. At B, the price reverses again. Ideally, retracement BC should be between 61.8% and 78.6% of the AB price range, not the length of the lines, and is shown along the line AC. At C, the price again reverses with retracement CD between 127% and 161.8% of the range BC and is shown along the line BD. Price D is the point to buy/sell (bullish/bearish Gartley pattern) as the price is about to increase/decrease."
Resources: www.investopedia.com.../terms/g/gartley.asp
Comment:
Maybe this is what was needed for the reversal (tweet by CryptoKorean): "Good news from Korea. 6 Korean banks are aiming to simultaneously open/allow deposits and withdrawals to exchanges as of 30 January 2017. This applies to new account holders." Source: t.co/ktELQUJ9zo
