Priceline of Wanchain (WAN) with Bitcoin cryptocurrency pair has formed bullish BAT pattern and entered in potential reversal zone.

This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.

Lets have a look on the Wanchain's bullish BAT pattern's move:

After inertial 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 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and 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 if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move.

So as per Fibonacci sequence method we can set our targets as below:

Buy between: 0.00002447 to 0.00002387

Sell between: 0.00002591 to 0.00002805

So this short term 12hr chart of Wanchain Can produce upto 17.5% profit 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 BAT pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.