Bitcoin analysis - Are we looking at a daily bullish harmonic?
I do not trade Bitcoin and I usually do not analyze it but I've been getting some requests from MarketZone followers so I've decided to take a look.
In the chart you can see possible bullish Gartley pattern which has completed already and the price is testing the PRZ right now. Interesting rally just below the 78.6 Fib line and also that if it'll cross back above it (the 78.6) it will also mean an important downtrend line breakout.
320$ is the key resistance zone that the price will meet on its way up, in case of a breakout.
At this zone, the price will meet a daily structure level and possibly also the 200 SMA line. Two important resistance factors that could send Bitcoin for a pullback.
If you are bullish, good luck, the chart is looking good, at least short term.
In the chart you can see possible bullish Gartley pattern which has completed already and the price is testing the PRZ right now. Interesting rally just below the 78.6 Fib line and also that if it'll cross back above it (the 78.6) it will also mean an important downtrend line breakout.
320$ is the key resistance zone that the price will meet on its way up, in case of a breakout.
At this zone, the price will meet a daily structure level and possibly also the 200 SMA line. Two important resistance factors that could send Bitcoin for a pullback.
If you are bullish, good luck, the chart is looking good, at least short term.
