Potential Bullish Gartley printing out for BTC/USD
Fibonacci retracement levels put B just past .618,
yet not touching .786 which would invalidate it
C is in the appropriate range for validating the top of
the right wing by not going above the A impulse
The Fibonacci extension from A to B places the 1.272 range
too far from the .786 retracement for me to believe
we'll make a move back up as soon as we touch $8,830
Hence why the potential entry point is set at ~$8510
where (approximately) I believe the Gartley will complete
its formation, slightly increasing R/R as well
Stop set tight below X
First target is C
Fibonacci retracement levels put B just past .618,
yet not touching .786 which would invalidate it
C is in the appropriate range for validating the top of
the right wing by not going above the A impulse
The Fibonacci extension from A to B places the 1.272 range
too far from the .786 retracement for me to believe
we'll make a move back up as soon as we touch $8,830
Hence why the potential entry point is set at ~$8510
where (approximately) I believe the Gartley will complete
its formation, slightly increasing R/R as well
Stop set tight below X
First target is C
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.