Formation of bearish BAT:
This time on daily chart the price action of Stellar (XLM) with Bitcoin pair has formed bearish harmonic BAT pattern and entered in potential reversal zone. There priceline also has found 200 simple moving average resistance that will also push down the price action.
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Where we should place sell orders?:
As per Fibonacci sequence of bearish BAT the sell order can be placed between: 0.00000701 to 0.00000716 sats
Stop Loss:
The potential reversal zone area which is up to 0.00000716 sats can be used as stop loss in case of complete candle sticks closes below this level.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
