On the other hand if this chart were to break down under the low it would be a good idea to stop out and reverse to make back your losses. For now the long-side has great risk/reward, Initial profit objective would be around 0.015 and 2nd target would be around 0.023, if this is a the target could be as high as 0.034. It will likely be a good idea to get more aggressive on the long side if this breaks above 0.0115
Bitcoin is also looking very so this compliments that set up perfectly and both are extremely good r/r with potential reverse trades if the stops are hit.
Since it appears that this Gartley is likely to fail on ETHBTC, we now move to the next signal down which is another Gartley on ETHUSDt around 4.5. This would make sense if ETHBTC began to fall significantly from here.
Looks like we hit my highest target at 0.034. There could be significant resistance here but I wouldn't be surprised if we do eventually continue up from here and break the ETHBTC ATH because this still has a ton of momentum, so long as the lower supports continue to hold on this retracement.
LIKE AND FOLLOW FOR MORE IDEAS
Check the updates on that chart for more info. I also have a list of over a dozen bearish signals on bitcoin and the only bullish signals are the trend and the price which basically ALWAYS look bullish right up until the very end of the trend. Of course it could still break up from here but that is really unlikely and if it did you could reverse and make a profit in either direction.