BTC formed big Shark and re-tested weekly EMA 21 for big move

By moon333 | moon333 | 13 May 2021


Hi, friends hope you are well and welcome to the new update on Bitcoin ( BTC ).


On the 2-day chart, the price action of BTC has completed another leg of the harmonic Shark pattern.

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https://www.tradingview.com/chart/BTCUSD/0VpMxD6f-BTC-formed-big-Shark-and-re-tested-weekly-EMA-21-for-big-move/ 

 

This time we also have a big event that the BTC is re-testing weekly EMA 21 after Sep 2020.

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Buying and sell targets for Shark move:
Buy between: $48371 to $45444

Sell between: $50924 to $56719


Stop loss:
The maximum extent of the potential reversal zone to $45444 can be used as a stop loss.

Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 24.5%, however, due to the re-test of weekly EMA21 the move can be even bigger, and a loss possibility up to 6.5%.


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.

 

For more harmonic trading ideas you can join:

https://www.patreon.com/moon333

 

Link for Binance exchange, the best place to buy or sell Crypto:

https://www.binance.com/?ref=11256882

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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