Hi fox hope you are well. In my previous article on 27 Feb we have seen that the Bitcoin formed a complete bullish Butterfly pattern. And on 2nd Mar the pricline started moving up and finally on 5th Mar BTC has hit the sell target zone area.
A New Harmonic Move On Hourly Chart:
Now this time on 1 hour chart is forming another harmonic pattern and this time it is bullish Gartley. All legs are formed now the priceline is forming last leg.
The Pattern:
Lest’s dig the pattern deeper to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 Fibonacci of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.618 to 0.786 Fibonacci then the priceline will be ready to take bullish or upwards move.
Buying And Sell Targets:
The buying and sell targets according to hrmonic Gartley pattern should be:
Buy between: $9083.3 to $9051.6
Sell between: $9108.2 to $9168.3
Stop Loss:
The potential reversal zone area which is up to to $9051.6 can be used as stop loss in case of complete candle stick closes below this level.