Bearish Gartley, bullish Crab, impulse up to 48k accordingly to these harmonic patterns. Once there and again, accordingly to both harmonics, there should be a continuation of bullish crab targets, or a correction / downturn of bearish gartley, which I would point toward 44k down to 40k retest if will in fact be a correction meeting bearish gartley targets and all.
Crab is an unlikely pattern but seems to be playing quite well this far.
Crab is an unlikely pattern but seems to be playing quite well this far.
Comment:
Comment:
Comment:
BTC has finally played the bullish divergence (still needs a higher high) and our so much followed Falling Wedge which may have broken out — waiting 4h to close as confirmation, then daily!
40500$ is key resistance
38700$ — 36500$ is key support
BTC is likely to find support above 100 MA 4H (39500$) and poke 40200$ — 40550$ or even 200 MA at 41200$ before we can further analyze to know it's behavior.
Failing breakout on 4H, it could get rejected and easily print another lower low (LL) but that's not on the cards until 38500$ — 38000 loses support.
Harmonics (x2) ✅
Falling Wedge ✅
37400$ Filled ✅
40500$ is key resistance
38700$ — 36500$ is key support
BTC is likely to find support above 100 MA 4H (39500$) and poke 40200$ — 40550$ or even 200 MA at 41200$ before we can further analyze to know it's behavior.
Failing breakout on 4H, it could get rejected and easily print another lower low (LL) but that's not on the cards until 38500$ — 38000 loses support.
Harmonics (x2) ✅
Falling Wedge ✅
37400$ Filled ✅
Comment:
Comment:
rekt
Both Harmonics were completed successfully, Crab was done with it's targets near 48k and Gartley also reached sell point at D, roughly 48k as pointed out and analyzed, further on, we also have reached both targets on the short that Gartley provide, respectively 42355$ as TP1 and 38751$ as TP2, both done ✅
Complete success achievement ‼️
#UPDATE
Coming down to these targets BTC formed a falling wedge, not super solid as harmonics were with a lot of confluence, but good enough.
Reversal could happen between 38750$ and 37400$, lowest 37k — 36k as this would be daily OB retest, surprisingly would go up from here without touching lower support and fibs where there is good confluence and would finalize bullish divergence.
38500$ down to 37400$ would be a good entry for those longs waiting to fill. Ofc, use a stop loss below — your risk ❗️
In conclusion, we're waiting weekly to start and price to unfold, so we can have an opportunity to grab these longs below current price — following it will be crucial to take this trade, so please, remind me to further analyze as price unfolds!
The Falling Wedge together with price support, OB retest, fib bullish correction (61.8% — 70.6% retrace), bullish divergence and the Gartley alone is overall a good confluence to look for a solid reversal and take a long.
"The Gartley pattern, one of the most traded harmonic patterns, is a retracement and continuation pattern that occurs when a trend temporarily reverses direction before continuing on its original course.
It gives you a low-risk opportunity to enter the market where the pattern completes and the trend resumes."
This statement about Gartley alone gives us a bullish confluence for reversal and continuation of the uptrend, so it's what I'm expecting without further BS!
Technical Analyses at it's best 👌💪