BTCUSD Completing Bullish Butterfly | A good long opportunity
The previous short term idea executed successfully:
Now again on short-term 4-hour chart, the price action of Bitcoin is completing final leg of bullish Butterfly and soon it will be reached in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Butterfly pattern should be as below:
Potential reversal or buying zone: $17366.39 to $17013.31
Sell or Fibonacci projection zone: $17640.40 to $18307.04
Stop Loss:
The potential reversal zone area that is up to $17013.31 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 7.6% and as per the above-mentioned stop loss, the loss possibility is 2.04%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Now again on short-term 4-hour chart, the price action of Bitcoin is completing final leg of bullish Butterfly and soon it will be reached in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Butterfly pattern should be as below:
Potential reversal or buying zone: $17366.39 to $17013.31
Sell or Fibonacci projection zone: $17640.40 to $18307.04
Stop Loss:
The potential reversal zone area that is up to $17013.31 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 7.6% and as per the above-mentioned stop loss, the loss possibility is 2.04%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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