BTCUSD – Bullish Gartley Pattern Formed

BTCUSD – Bullish Gartley Pattern Forming
✅ Market Context:
Pattern: Bullish Gartley

Current Trend: Mid-term bearish

Key Bullish Level: $62,000 (Potential PRZ – bullish reversal zone)

Resistance: Long-standing bearish trendline, tested multiple times

Support: Bullish trendline aligning near the Gartley PRZ at $62,000

🧩 Gartley Breakdown:
XA: Strong bullish move

AB: Retraces 61.8% of XA

BC: Retraces 38.2–88.6% of AB

CD: Extends to 78.6% of XA
→ Completion zone at $62,000

📈 Trade Idea – Prepare for LONG Setup
Scenario 1: Price Drops to $62,000

Look for bullish confirmation (candle pattern, divergence)

Ideal entry zone to long from PRZ

Stop-loss: Below Gartley X-point or local low (~$60,500–$61,000)

Scenario 2: Price Consolidates Under Trendline

If it breaks the bearish trendline, prepare for early momentum breakout

Wait for a retest of the breakout and enter

Targets:

TP1: $65,500 (structure)

TP2: $68,000 (Fibonacci 0.618)

TP3: $70,000+

Risk-Reward: Aim for 1:2 or higher

⚠️ What to Watch:
Daily RSI/MACD for divergence confirmation

BTC volume confirmation near $62,000

Macro news: BTC ETF flows, Fed stance on rates, CPI