in this analysis i compiled three methods of analysis to see possible scenarios to see to where the btc may move "i'll discuss only two scenarios".
firstly there was price action in 8371$ area. why? due to it represents 0.61 fab from the previous leg. if this resistance line succeeded to send btc down that's mean there is probability for forming bearish Gartley. this scenario could be applied in case btc go out from the price time channel. this channel is targeting to 9800$ @ 10th of aug. the next big jump in btc prices according to this channel is expected to be around 1st of aug which means week from now for retracement.
let's c how the price time channel will control the btc movement.
firstly there was price action in 8371$ area. why? due to it represents 0.61 fab from the previous leg. if this resistance line succeeded to send btc down that's mean there is probability for forming bearish Gartley. this scenario could be applied in case btc go out from the price time channel. this channel is targeting to 9800$ @ 10th of aug. the next big jump in btc prices according to this channel is expected to be around 1st of aug which means week from now for retracement.
let's c how the price time channel will control the btc movement.