Hi, friends hope you are well, and welcome to the new update on Bitcoin (BTC).
On the 2-day chart, the price action of BTC has completed another leg of the harmonic Shark pattern.
This time we also have a big event that the BTC is re-testing weekly EMA 21 after Sep 2020.
Buying and sell targets for Shark move:
Buy between: $48371 to $45444
Sell between: $50924 to $56719
Stop loss:
The maximum extent of the potential reversal zone to $45444 can be used as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 24.5%, however, due to the re-test of weekly EMA21 the move can be even bigger, and a loss possibility up to 6.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the 2-day chart, the price action of BTC has completed another leg of the harmonic Shark pattern.
This time we also have a big event that the BTC is re-testing weekly EMA 21 after Sep 2020.
Buying and sell targets for Shark move:
Buy between: $48371 to $45444
Sell between: $50924 to $56719
Stop loss:
The maximum extent of the potential reversal zone to $45444 can be used as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 24.5%, however, due to the re-test of weekly EMA21 the move can be even bigger, and a loss possibility up to 6.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.