From TradingView · · 1m 10s
Bitcoin poised for wave 5 rally after wave 4 dip
A technical analyst identifies a bullish Gartley pattern suggesting Bitcoin will bottom between 39k and 42k before a final surge upward.
In brief
A technical analyst identifies a bullish Gartley pattern suggesting Bitcoin will bottom between 39k and 42k before a final surge upward. According to harmonic pattern analysis, Bitcoin's next major move involves a dip to 39-42k followed by a final wave up. Originally reported by TradingView.
Gartley pattern spotted in Bitcoin
A technical analyst has identified a bullish Gartley harmonic pattern forming on the Bitcoin chart, suggesting a structured price movement ahead.
Wave 4 expected to bottom at 39-42k
The pattern suggests Bitcoin's fourth wave will find its low between 39,000 and 42,000 dollars before reversing higher.
Final wave 5 rally expected after dip
Once wave 4 completes at the predicted low, Elliott Wave theory suggests a final wave 5 will drive Bitcoin higher in a bullish conclusion.
Elliott Wave meets harmonic patterns
The analysis combines Elliott Wave counting with harmonic pattern recognition, two technical methods that traders use to forecast price movements.
Chart interpretation for experienced traders
The analyst notes this chart is designed for traders versed in Elliott Wave and harmonic patterns, requiring specialized knowledge to interpret.
“Peep this BTC chart those versed in EW and Harmonic Patterns will get it”
At a glance
According to harmonic pattern analysis, Bitcoin's next major move involves a dip to 39-42k followed by a final wave up.
