Bitcoin (BTC) may complete bullish Cypher for upto 19% move
Hi dear friends, hope you are well and welcome to the new update on Bitcoin (BTC).
Previously we had a nice trade of bullish Cypher pattern by BTC:
Now on the daily time frame chart, if the price action of Bitcoin will break down the 25 simple moving average then it can complete another bullish Cypher pattern.
Buy and sell targets:
Buy between: $34946 to $33210
Sell between: $36311 to $39592
Stop loss:
The maximum extent of potential reversal zone $33210 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 19%, and the high loss possibility is 5%, however at this time the risk is low as the price action is already at the end of the buying zone.
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.
Previously we had a nice trade of bullish Cypher pattern by BTC:
Now on the daily time frame chart, if the price action of Bitcoin will break down the 25 simple moving average then it can complete another bullish Cypher pattern.
Buy and sell targets:
Buy between: $34946 to $33210
Sell between: $36311 to $39592
Stop loss:
The maximum extent of potential reversal zone $33210 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 19%, and the high loss possibility is 5%, however at this time the risk is low as the price action is already at the end of the buying zone.
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.