Hi friends hope you are well, on 2 day chart the Monero (XMR) Coin has formed bullish BAT pattern and entered in potential reversal zone to move up to 72% up.
Lest’s dig the pattern deeper to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg.
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $55.701 to $50.477
Sell between: $68.18 to $86.926
Stop Loss:
The potential reversal zone area which is up to to $50.477 can be used as stop loss in case of complete candle stick 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 reaserch before any investment.