Ethereum Mid And Short Term Trading Idea | Ethereum Has Formed Bullish Butterfly For Upto 30% Bullish Move

Ethereum Mid And Short Term Trading Idea | Ethereum Has Formed Bullish Butterfly For Upto 30% Bullish Move

By moon333 | moon333 | 1 Mar 2020


Hi friends hope you are well, here I have found another profit potential trading idea for you and this time I have found a harmonic move by Ethereum (ETH). The Priceline of Ethereum  has formed bullish Butterfly pattern and entered in potential reversal zone and ready for bullish reversal soon.

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Click Here To Visit Complete Chart On Tradingview

 

The initial leg was started from 16 Feb Up to 19 Feb then after this bullish move the price action started a correction rally and retraced between 0.618 to 0.786 Fibonacci levels then after having correction it moved up and projected between 0.382 to 0.886 Fibonacci projection of A to B leg after this projection move the price action started the formation of final leg that is C to D and this leg is retraced between 1.27 up to 1.618 Fibonacci levels as required for a perfect bullish butterfly pattern. Now from this potential reversal zone the price action is supposed to take the bullish divergence at least up to 0.382 to 0.786 Fibonacci projection of A to D leg. We have another very strong signal and that is the 100 simple moving average has entered in the potential reversal zone just beneath the priceline to provide a strong support.

 

Buying And Sell Targets:

The buying and sell targets according to harmonic Butterfly pattern should be:

Buy between: $223.50 to $206.08

Sell between: $236.99 to $269.43

So this is upto 30% profit opportunity

 

Stop Loss:

The potential reversal zone area which is up to $206.08 can be used as stop loss in case of complete candle stick closes below this level.

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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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