Price actions of Blockstack (STX) is forming bullish Cypher pattern and expected to enter in bullish potential reversal zone soon.

Lets have a look on the STX priceline's move:

After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci (The exact measuring is 0.492 Fibonacci) and then B to C leg is projected between 1.272 to 1.414 of A to X leg's Fibonacci projection and final (C to D) leg is suppose to be retraced between 0.618 to 0.786 Fibonacci projection of X to D leg for a perfect bullish Cypher and then the price action will be entered in potential reversal zone of this bullish Cypher pattern, then we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move.

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

Buy between: $0.1030 to $0.0930

Sell between: $0.1108 to $0.1297

So this trade has potential to give upto 39% 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 intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Cypher pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.