A formation of harmonic bullish Butterfly pattern:
Hi folks hope you are doing well, this time on 2 weeks long term chart Quant (QNT) with Bitcoin pair has formed bullish Butterfly pattern and entered in potential reversal zone and ready to move up at any time.
Let’s dig the pattern deeper to see how perfect it has been formed.
After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.328 to 0.886 Fib of A to B Fibonacci projection area and last leg (C to D) is retraced between 01.27 to 01.618 Fibonacci and now entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern and its Fibonacci sequence should be:
Buy between: 0.00032901 to 0.00014857sats
Sell between: 0.00046904 to 0.00080871 sats
So this trade can has capacity to produce massive profit upto 444%.
Stop Loss:
The potential reversal zone area that is up to to .00080871 sats can be used as stop loss in case of complete candle stick opens and closes below this level.
Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.