In my previous idea we have seen that on 2 hour chart the Bitcoin was forming bullish Gartley then finally as per prediction the priceline entered in buying zone and after hitting the sell zone dropped down.
Before execution:
After execution:
Formation of new BAT pattern:
This time on short term 4 hour based chart the price action of BTC is forming bullish harmonic BAT pattern and soon it will be entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $6853 to $6777
Sell between: $7034 to $7307
Stop Loss:
The potential reversal zone area which is up to $6777 can be used as stop loss in case of complete candle sticks closes below this level.
Possible profit and loss ratio:
As per above targets this short term trading idea trade has the profit possibility of 7.8% and as per stop loss the loss possibility is 1.1%.
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.