Bitcoin forming a Gartley on the daily/weekly. Price must extend fully to the 9,000-9,100 price level to complete the 1.27 extension. The Complete Gartley indicates a reversal pattern, so we can look for a heavy drop in price if D is accurate with the correct extensions. This does not mean this WILL happen, but we should look for heavy resistance around D price range.
Bitcoin dropped to 6,220 yesterday, and broke thru previous resistance and topping out around 6,880 before dropping down to the 6,700 price range. A close on the daily above 6,650 is necessary in order to continue buying pressure, without the buying support we can see the price test the 6,200-6,300 levels.
Bitcoin also faces heavy resistance near the top trend line, if it blows thru and closes green on the daily, we can use it as more confirmation of the Gartley forming.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Bitcoin current price 6,688.
COMPLETED 7:51 (UTC-7) LOS ANGELES.
Bitcoin dropped to 6,220 yesterday, and broke thru previous resistance and topping out around 6,880 before dropping down to the 6,700 price range. A close on the daily above 6,650 is necessary in order to continue buying pressure, without the buying support we can see the price test the 6,200-6,300 levels.
Bitcoin also faces heavy resistance near the top trend line, if it blows thru and closes green on the daily, we can use it as more confirmation of the Gartley forming.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Bitcoin current price 6,688.
COMPLETED 7:51 (UTC-7) LOS ANGELES.