Hi friends, hope you are well. The Stellar (XLM) with Bitcoin pair has formed bullish Butterfly pattern and entered in potential reversal zone to give another chance to earn more gains.
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 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.328 to 0.886 Fib of A to B Fibonacci projection area. And the last leg (C to D) is retraced between 1.27 to 1.618 Fibonacci level.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern and its Fibonacci sequence should be:
Buy between: 0.00001369 to 0.00000380 sats
Sell between: 0.00002141 to 0.00003986 sats
This can be really a big move upto 948%.
The potential reversal zone area that is up to 0.00003986 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.