MTLBTC formed bullish Shark | Upto 11% profit possibility
Priceline of Metal / Bitcoin cryptocurrency has formed a bullish Shark pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
Price action is getting bounced from bollinger bands support.
Volume profile is showing less interest of traders at the end of PRZ level and MACD is turned weak bearish but Stochastic is oversold and did not give bull cross sofar so for secure trade we can wait for stochastic to give bull cross then buy from the potential reversal zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00004495 to 0.00004390
Sell between: 0.00004631 to 0.00004886
Regards,
Atif Akbar (moon333)
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
Price action is getting bounced from bollinger bands support.
Volume profile is showing less interest of traders at the end of PRZ level and MACD is turned weak bearish but Stochastic is oversold and did not give bull cross sofar so for secure trade we can wait for stochastic to give bull cross then buy from the potential reversal zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00004495 to 0.00004390
Sell between: 0.00004631 to 0.00004886
Regards,
Atif Akbar (moon333)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.