Hi friends hope you are doing good, here I have found another profit potential trading idea for you and this time I have found a harmonic move by king of all cryptocurrencies the Bitcoin. The Priceline of BTC has formed bullish Butterfly pattern and entered in potential reversal zone and ready for bullish reversal soon.
The dimensions of pattern:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 1.27 to 1.618 Fibonacci and now the price action is moving in potential reversal zone of this bullish Butterfly pattern and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg.
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $5393 to $3996
Sell between: $6477 to $9098
Stop Loss:
The potential reversal zone area which is up to $3996 can be used as stop loss in case of complete candle stick closes below this level.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
The dimensions of pattern:
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $5393 to $3996
Sell between: $6477 to $9098
Stop Loss:
The potential reversal zone area which is up to $3996 can be used as stop loss in case of complete candle stick closes below this level.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
