Bitcoin: BTCUSD Bullish Gartley Pattern (Part 2)

This large, bullish Gartley pattern is nearing completion and indicates that price will begin to climb soon. I have set out the pattern with point D very near to 9000, so will be looking for price to drop to there before going long, targeting the 61.8% level of X to C. I will activate the trade once I believe the pattern is complete.

This is part 2 of this idea, I originally spotted the pattern on 8th Jan and managed to get a short position in to profit from the major selloff.

Commentaire:

Oops! Please ignore the blue horizontal lines, they are nothing to do with this trade setup

Commentaire:

Looking for any reversal signs here, we are not at D yet but we are close enough to be worried about missing our entry

Commentaire:

hmmm, BTC catching a bid at the moment. Don't want to miss the move but I'm not yet convinced enough that the downtrend is done

Commentaire:

I'm going to open an order to buy at 10,000. Will update if I feel the need to open manually

Commentaire:

I forgot to update before but if you refresh the chart you can see that BTCUSD came right up to our target level before reversing :)