Bitcoin 4hr Bearish Gartley formed. Possible drop incoming.

Another Bearish Gartley formed from the drop of the one earlier this week.

This one is on the 4h and from a bearish drop, so we know it's legit. Unlike the last one in a tiny time frame, outside of swing patterns.

Double top on RSI with lower price. Volume shows divergence from price raise.

Projected price target - 7400-7500.

All feedback is appreciated.

Happy Trading.

-SJ

Commentaire:

Uptrend line suggests the price will likely only go as low as 8k before a bounce. If that far.

Unless we have a serious breakdown in volume.

Bloomberg warning of a death cross on TV constantly isn't helping.

Commentaire:

Well. Dump o'clock happened this morning again. Here we are, on the 300 EMA. Hanging on for dear life.

Commentaire:

Almost there, by $100. Currently it's hitting the .618 fib as resistance.