LUNBTC formed big butterfly | Upto 808% massive bullish moveWorld's 661 ranked cryptocurrency out of more than 2300 cryptocurrencies Lunyr (LUN) with Bitcoin pair has formed bullish Butterfly pattern and entered in potential reversal zone and ready for bullish reversal soon.
This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone.
The price action has crossed more than 1.27 fibonacci but cannot reach upto 1.618 coz this Fibonacci level is in negative and price action cannot move down than 0.0000001 sats how ever we have very strong support at 0.0000836 sats so there are very less chances that price action may break this support level.
Lets have a look on the dimensions of LUN with Bitcoin pair priceline's move:
After inertial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 1.27 to 1.618 Fibonacci as perfectly required for bullish Butterfly pattern and now the price action is moving in potential reversal zone of bullish Butterfly, now we can expect bullish move at any time which will lead the price action between 0.382 to 0.786 Fibonacci projection of A to D leg, but after this bullish divergence if the candles sticks will be closed above the 0.786 Fibonacci levels then it can also lead to the long term bull move.
As per Fibonacci sequence method we can set our targets as below for mid term trade:
Buy between: 0.0001836 to 0.0000836 sats
Sell between: 0.0003521 to 0.0007594 sats
So this trade has potential to produce upto 808% very very big bullish move.
Regards,
Atif Akbar (moon333)
The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Butterfly pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
