BTCUSD formed a bullish Butterfly | Upto 24% expected
Priceaction of Bitcoin / US Dollar has formed bullish Butterfly pattern and entered in potential reversal zone to hit the sell targets insha Allah.
This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone.
Volume profile is showing less interest of traders here, but we have a very strong bearish Marubozu candle stick hitting the 100 simple moving average support moreover Stochastic did not give bull cross and MACD is strong bearish so for secure trade we should wait for MACD to turn weak bearish or for stochastic to give bull cross then buy.
I have used Fibonacci sequence to set the targets:
Buy between: 8880.91 to 8313.28
Sell between: 9320.13 to 10384.96
Regards,
Atif Akbar (moon333)
This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone.
Volume profile is showing less interest of traders here, but we have a very strong bearish Marubozu candle stick hitting the 100 simple moving average support moreover Stochastic did not give bull cross and MACD is strong bearish so for secure trade we should wait for MACD to turn weak bearish or for stochastic to give bull cross then buy.
I have used Fibonacci sequence to set the targets:
Buy between: 8880.91 to 8313.28
Sell between: 9320.13 to 10384.96
Regards,
Atif Akbar (moon333)
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