We can see a bullish gartley pattern formed on BTC daily chart, this is a sign of potential reversal near point D ( CD=1.27AB ).
Harmonica patterns are usually used accompany with other technical indicators to increase the probability of a valid entry, e.g. the 21MA.
However, BTC is running under daily 21MA for 3 weeks now, and there's no strong support under D.
I would wait to see if it climbs up 21MA and that is a buy signal.
Harmonica patterns are usually used accompany with other technical indicators to increase the probability of a valid entry, e.g. the 21MA.
However, BTC is running under daily 21MA for 3 weeks now, and there's no strong support under D.
I would wait to see if it climbs up 21MA and that is a buy signal.
Note
As we can see on 4h chart, the RSI(2) shows oversold which usually indicates that a temporary bottom is forming.
Note
Pushed down by 21MA on 4H, Waiting for MA to be smoother, and price breaking over it. Note
Downward pressure decreased - Let's see how it reacts at 7000 and 6500 levels, it could bounce right from these fib levels or retest deep to -6000. 
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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.