What's up traders, today I'm looking at MAID/BTC on the 1h chart with a bullish butterfly pattern, this has some serious potential.
The measurements for a valid butterfly pattern are detailed below. B: 0.786 C: 0.382 - 0.886 D: 1.618 - 2.24 X to D: 1.272
The completion of this pattern aligns with the all time low for the asset, meaning it is a crucial area of support and a key area to buy at depression lows.
In addition a 1.13 A, B, C extension completes in the potential reversal zone further confirming this zone.
I'll be waiting until the pattern completes before placing the trade.
As always feel free to connect with me below!
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Quick breakdown on market structure
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A quick update on structure, we will see more activity shortly.
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MAID/BTC, pattern complete, price is sitting in a key demand zone.