STXUSDT formed bullish cypher
Updated
Blockstack (STX) has completed the bullish Cypher pattern by its volatility.
The initial leg was started from Dec 2018 then A to B leg retraced between 0.382 to 0.618 Fibonacci and B to C leg projected between 1.272 to 1.414 of A to B leg's Fibonacci projection.
Now the C to D leg is retraced between 0.618 to 0.786 Fibonacci as perfectly required for bullish Cypher pattern.
Now the price action has entered in potential reversal zone to take the bullish divergence.
This potential reversal can be used as stop loss in case a complete candle stick closes below this level.
As per Fibonacci sequence the buying and sell ranges are as below:
Buy between: $0.1902 to $0.1708
Sell between: $0.2055 to $0.2055
This very short term 2 hour based charts has capacity to produce upto 20% profit.
Regards,
Atif Akbar (moon333)
The initial leg was started from Dec 2018 then A to B leg retraced between 0.382 to 0.618 Fibonacci and B to C leg projected between 1.272 to 1.414 of A to B leg's Fibonacci projection.
Now the C to D leg is retraced between 0.618 to 0.786 Fibonacci as perfectly required for bullish Cypher pattern.
Now the price action has entered in potential reversal zone to take the bullish divergence.
This potential reversal can be used as stop loss in case a complete candle stick closes below this level.
As per Fibonacci sequence the buying and sell ranges are as below:
Buy between: $0.1902 to $0.1708
Sell between: $0.2055 to $0.2055
This very short term 2 hour based charts has capacity to produce upto 20% profit.
Regards,
Atif Akbar (moon333)
Trade closed: target reached
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