Bitcoin re-entered potential reversal zone of harmonic patternHi friends, hope you are well and welcome to the new trade setup of Bitcoin ( BTC ).
In reference to the below idea:
On a weekly time frame, this time BTC has again entered the potential reversal zone of the same bullish Shark pattern and there is also very strong support at $41330, The Stochastic has entered the oversold zone, therefore the price may start a reversal move from above this level. However, as per the Fibonacci sequence, the buying and sell targets can be as below:
Buy between: $42701 to $36005
Sell between: $48609 to $61939
Stop loss:
The maximum extent of the buying zone $36005 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of up to 72%, and the loss possibility is 16%.
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
