EJSM
Short

BTC to complete BAT Pattern

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC seems to have performed a BAT pattern . Typically targets begin at 88.6% on fibonacci retracment
If this is true, the market will drop to $8,231 which is where a long position would fall to place.
Supporting evidence for this call is the strong momentum to the downside along with the current daily engulfed bearish candle at the time of this writing.

However, my doubts about the pattern creep in when I see that the C leg didn't even kiss the upside 88.6% retracement .
This leaves room for the pattern to then be considered a Gartley which then switches the target to 78.6% (which translates to $8,856)
Aug 02
Comment:
Market is pushing upwards. Bull momentum building. Seeking resistance @ $10,641
love seeing you sharing your view, we are all students of the market no matter how many years we are trading. i've been in this business for years and i am also sharing my valuable content, go take a look if you wish, i'm sure you will like it
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EJSM transparent-fx
@transparent-fx, No doubt
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