In my previous idea we have seen that on 2 hour chart the Bitcoin was forming bullish Gartley then finally as per prediction the priceline entered in buying zone and after hitting the sell zone dropped down.
Before execution:
Click here to visit previous article on tradingview
After execution:
Formation of new BAT pattern:
This time on short term 4 hour based chart the price action of BTC is forming bullish harmonic BAT pattern and soon it will be entered in potential reversal zone.
Click here to visit tradingview for complete chart
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $6853 to $6777
Sell between: $7034 to $7307
Stop Loss:
The potential reversal zone area which is up to $6777 can be used as stop loss in case of complete candle sticks closes below this level.
Possible profit and loss ratio:
As per above targets this short term trading idea trade has the profit possibility of 7.8% and as per stop loss the loss possibility is 1.1%.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
