Bullish Gartley Pattern on BTC, but - lack of support
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.
Kommentar:
As we can see on 4h chart, the RSI(2) shows oversold which usually indicates that a temporary bottom is forming.
Kommentar:
Pushed down by 21MA on 4H, Waiting for MA to be smoother, and price breaking over it.
Kommentar:
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.
