BitcoinLong
$Bitcoin $BTC Bullish Gartley Type 2
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Should we hold our new lows here on Bitcoin, i would look at this as not only further validation of accumulation and a likely continuation of this bullish trend, but its also our smaller Bullish Bat formation completing giving us a Type 2 return on the Bullish Gartley.
Ive got levels marked all the way up to 100k only because i do think these are valid levels that will be tested and respected if we do infact make a bolder move higher. This is not a prediction, just a thought, BUT generally speaking the 1.618 extension up near 100k is a valid target for the Gartley in most cases, in this sort of context. This type of price action would also be confluent with the leading diagonal i posted about yesterday.
Ive got levels marked all the way up to 100k only because i do think these are valid levels that will be tested and respected if we do infact make a bolder move higher. This is not a prediction, just a thought, BUT generally speaking the 1.618 extension up near 100k is a valid target for the Gartley in most cases, in this sort of context. This type of price action would also be confluent with the leading diagonal i posted about yesterday.
Note
Needless to say we still have our 48k target, and 51500 zone to break before one could consider higher targets on this chart. While the wold events going on right now could really wreak havoc on this market, the fiscal games and irresponsibility that has started and may continue here, could also be a new fuel source for this to eventually take course.
Note
We made a trade on the lows overnight at 34,400 for the small cyclical reversal structure and bullish dragon break out. A retracement would not be strange, and ill be a buyer of dips until we invalidate the bullish trend on the weekly.
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