BTC Progressing LONG after Breakout w/ possible Gartley Harmonic
BTC is progressing LONG after breakout of structure and continuation of wave count + pattern as per my last analysis here:
At this point in time of analysis, I see 2 possible paths. First path is a continuous LONG continuing the previous Elliott wave count.
The Second path, includes a Bullish Gartley Harmonic pattern which includes a SHORT to the $2,430 Range before a LONG upwards and continuing to the $6,000 mark.
'TDI' shows continued upward trend as well as railroad tracks x2 off the Water EMA, which suggests continued bullish trend at this point in time.
Mayo and Blueberry EMAs are below price-action (On the Daily) which also suggests Bullish trend at this point in time.
If however, the Harmonic pattern is confirmed, we can expect a bounce off the Mayo or Blueberry (On the Daily Chart), for the continued upwards trend move.
Additionally, there seems to be a possibility of a head and shoulders pattern that could be forming, which would also confirm the harmonic pattern.
In my opinion, this pair is still LONG, however if you want to purchase BitCoin, the best time would be IF the harmonic pattern is confirmed, before a strong push upwards.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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At this point in time of analysis, I see 2 possible paths. First path is a continuous LONG continuing the previous Elliott wave count.
The Second path, includes a Bullish Gartley Harmonic pattern which includes a SHORT to the $2,430 Range before a LONG upwards and continuing to the $6,000 mark.
'TDI' shows continued upward trend as well as railroad tracks x2 off the Water EMA, which suggests continued bullish trend at this point in time.
Mayo and Blueberry EMAs are below price-action (On the Daily) which also suggests Bullish trend at this point in time.
If however, the Harmonic pattern is confirmed, we can expect a bounce off the Mayo or Blueberry (On the Daily Chart), for the continued upwards trend move.
Additionally, there seems to be a possibility of a head and shoulders pattern that could be forming, which would also confirm the harmonic pattern.
In my opinion, this pair is still LONG, however if you want to purchase BitCoin, the best time would be IF the harmonic pattern is confirmed, before a strong push upwards.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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