Harmonics Working in Bitcoin

21 Jan 2018

My Bearish Gartley chart, published before the crash, correctly forecast the level at which BTCUSD hit bottom last week. Now, the cryptoasset is (likely) moving through an ABCD pattern, toward the 0.618 Fibonacci level at $14,175 (at risk if price crosses the green B/C line before). Once there, sellers should attempt another push toward the previous low ~9,200. If so, symmetry implies the market for Bitcoin could be ~6,270 early next month.