One of the most powerful formation. Bitcoin investors have reacted to this pattern before. The previous Bullish Gartley formation was awarded with 22 % growth. This time the Bearish Gartley formation suggests a correction of 20-30 % retracement to test previous support levels around the 30k area.
This is either a critical stop-loss zone for many investors, or a huge buy-in for long term investors looking to get an entry.
I am long in bitcoin and cryptocurrency, and i believe that this is a temporary correction.
This is either a critical stop-loss zone for many investors, or a huge buy-in for long term investors looking to get an entry.
I am long in bitcoin and cryptocurrency, and i believe that this is a temporary correction.