ETH/USDT - Bullish Gartley Pattern Formation
A Bullish Gartley Harmonic Pattern has formed on the ETH/USDT chart, indicating a potential reversal zone and a buying opportunity. This classic harmonic pattern suggests that Ethereum could be ready to bounce back and start a new bullish wave.
Key Levels to Watch:
📌 Pattern Structure:
X-A: Initial impulse wave.
A-B: 61.8% retracement of X-A.
B-C: Reversal at 38.2%-88.6% of A-B.
C-D: Completes near the 78.6% Fibonacci retracement of X-A.
📌 Potential Reversal Zone (PRZ):
D-point aligns with the 78.6% Fibonacci retracement of the X-A leg.
Watch for bullish price action signals in this zone for confirmation.
Trade Setup:
🎯 Entry: Near the PRZ with confirmation (e.g., bullish candlestick patterns or RSI divergence).
🎯 Targets:
TP1: 38.2% retracement of A-D.
TP2: 61.8% retracement of A-D.
TP3 (Optional): 100% retracement of A-D.
🔒 Stop Loss: Below the D-point, allowing room for minor volatility.
Additional Notes:
Look for confluences like trendline support, moving averages, or additional Fibonacci levels for stronger validation.
Monitor key fundamentals and market sentiment to ensure alignment with the technical setup.
Let’s see if ETH can hold the PRZ and fly! 🚀
This is not financial advice. Trade responsibly and manage your risk!
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