Litecoin (LTC) Has Formed Bullish BAT Pattern | A Very Good Long Opportunity

Litecoin (LTC) Has Formed Bullish BAT Pattern | A Very Good Long Opportunity

By moon333 | moon333 | 20 Mar 2020


Hi folks hope you are doing good, in my previous idea of Litecoin with Bitcoin pair we have seen that the LTC had formed a complete bullish Shark pattern 12 chart. The formation of that pattern was started on 26th Dec 2019 and completed in 8th Jan 2020 and we have seen that on 8th Jan 2020 the price action moved up with the powerful divergence and produced more than 45% gains.

 

Before execution:

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Click here to visit previous article on tradingview

 

After execution:

SW6Q5O9KTRrOEbM1A5oJosfJh83B8rnu7ZStqcG0.png

 

Another bullish harmonic pattern.

This time on 1 hour short term chart after successful formation of previous bullish Shark pattern the Lite coin has formed another bullish BAT pattern and entered in potential reversal zone and ready to move up at any time.

 

Let’s dig the pattern deeper to see how perfect it has been formed.

After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.328 to 0.886 Fib of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now entered in potential reversal zone.

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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: 0.006246 to 0.006225 sats

 

Sell between: 0.006297 to 0.006375 sats 

 

So this very short term trade can be a good long opportunity for day traders.

 

Stop Loss:

The potential reversal zone area that is up to to 0.006225 sats can be used as stop loss in case of complete candle stick opens and closes below this level.

 

Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.


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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