Bitcoin Cash (BCH) Has Formed Bullish Gartley Pattern And Ready For Upto 17% Gains On Short Term Chart
Bitcoin Cash (BCH) Has Formed Bullish Gartley Pattern And Ready For Upto 17% Gains On Short Term Chart

By moon333 | moon333 | 19 Jan 2020


World's 4th ranked crypto token Bitcoin Cash (BCH) has formed bullish Gartley 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.

Lets have a look on the dimensions of BCH priceline's move:

After initial 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 0.618 to 0.786 Fibonacci as perfectly required for Gartley pattern and now the price action is moving in potential reversal zone of this Gartley pattern, now we can expect bullish divergence at any time which will lead the priceline 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 bullish move.

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So as per Fibonacci sequence method we can set our targets as below for mid term trade:

Buy between: $345.97 to $329.91

Sell between: $358.59 to $388.78

As per above targets this very short term 3hr chart based trade has potential to produce upto 17% gains.

 

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 an investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic Gartley pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.


moon333
moon333

Hi, My name is Atif Akbar and I am trading charts author of all kind of assets


moon333
moon333

Hi my name is Atif Akbar and I am one of the top 3 authors of cryptocurrency trading charts as per tradingveiw I publish there with my username moon333 to verify you can visit: https://www.tradingview.com/markets/cryptocurrencies/ideas/ I also publish the charts of different other assets like forex, commodities, CFDs Stocks e.t.c. Here you will find perfect predictions on different trading assets.

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