After a positive divergence was appeared in the bottom of descending channel in BTC, a Bullish Gartley pattern created and chart started to move up. Targets of this pattern are: 11600 (which is met) 14200 and finally 15400.
Note that l, there is a strong resistance cluster area near the top pf the channel in the 12300-12600 area that can make BTC bullish rally difficult in short term. but it seems this can be just a correction and finally targets will be met!
Note that l, there is a strong resistance cluster area near the top pf the channel in the 12300-12600 area that can make BTC bullish rally difficult in short term. but it seems this can be just a correction and finally targets will be met!
Trade active:
As we had expected, the strong 12300-12600 resistance area worked good and stopped chart ascending move .
First targets of gartley pattern is reached and rest of them are valid yet.
chart can meet 10300 where it is the first target of a bearish BAT pattern and a support cluster area near middle of channel. There is an alternative extreme condition the last target of this pattern will be 8300 near the bottom of channel and this is the end of correction and BTC will move up and after breaking top of the channel, it will go toward Gartley targets at 14200-15400 points.
First targets of gartley pattern is reached and rest of them are valid yet.
chart can meet 10300 where it is the first target of a bearish BAT pattern and a support cluster area near middle of channel. There is an alternative extreme condition the last target of this pattern will be 8300 near the bottom of channel and this is the end of correction and BTC will move up and after breaking top of the channel, it will go toward Gartley targets at 14200-15400 points.