There is a completion of the Bat pattern on the hourly.
Reason for entry:
Bat pattern completion
Double top at the D completion of the bat pattern
Bearish divergence on the RSI
Entry: $4191
SL: $4261
TP1: 38.6 fib of leg A to D
TP2: 61.8 fib of leg A to D
Price broke out of the channel and have now retested the channel support turn resistance.
Good risk reward here for a short with SL slightly above 3800 and profit just before the 3K mark.
Resaon for entry: Price retest support turn resistance with a high wick test of 3800
Entry: Next bar market after the lower low lower close candle
Entry: $3635
SL: $3805
TP:...
After creating a new structure low, BTC has been in a consolidation phase with a bullish Gartley in the midst of it all. We are not in a bullish rotation yet as the previous outside return has not be violated.
BTC price could oscillate within the wedge (white arrows) or could break out of the wedge and form a potential channel (light blue dotted lines) If BTC...
HTF: 1D
We could be forming a potential falling wedge formation on the daily, 2 touches on the bottom trend line and the bullish gartley on the LTF 4H could be the leg up to complete the second touch of the top trend line on the daily.
Reason for entry: Bullish gartley completion on the 4H
Entry: $3915
Stop loss: $3595 (BTC could head down to form a channel...
Will look to short BITFINEX:BTCUSD if price manages to complete a double top at the red arrow. Provides a good risk/reward with a high probability short setup.
Potential reasons for entry:
Outside return could act as resistance
Potential double top (with bearish divergence on RSI)
Top of Bollinger band
Top of the falling wedge pattern
Trend continuation
Stop...
BTC completed a bearish gartley on the 1H and looking to take 1st target at 38.2 retracement and 2nd target at 61.8 level.
Reason for entry:
Bearish Gartley Pattern
Bearish Divergence on RSI
Price rejection at the top of Bolinger Bands
