Bitcoin (BTC) Can Start Another Historical Bullish Reversal Move

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    moon333

    Published on Jan 11, 2022
    About :

    Hi friends, hope you are well and welcome to the new update on Bitcoin ( BTC ).

    Channel oscillator:
    On a daily time frame Bitcoin has formed a down channel. Now it is reached the support of this channel again. In the meanwhile, the RSI is also oversold. Now if the priceline of BTC reaches the resistance then it can move to $45K.

    image.png

    Bullish harmonic pattern .
    On a weekly time frame chart, the BTC has formed bullish Shark . There is also very strong support from $41330 to $39500, therefore the price may start a reversal move above this level. However, the maximum potential reversal zone is at $36K.

    image.png

    https://www.tradingview.com/chart/BTCUSD/TJ14mCfo-Bitcoin-BTC-formed-bullish-Shark-for-upto-72-move/

    In order to trade this patter the targets can be as below:
    Buy between: $42701 to $36005

    Sell between: $48609 to $61939

    Stop loss:
    The maximum extent of the buying zone $36005 can be used as a stop loss.

    Possible profit and loss ratio:
    As per the above targets, this trade has a profit possibility of up to 72%, and the loss possibility is 16%.

    Don't forget to upvote/tip and share the post, thanks

    You can also support my work at Patreon for more ideas:

    https://www.patreon.com/moon333

    In order to play and watch the current performance of the chart you need at least a free account on tradingview:

    https://www.tradingview.com/gopro/?share_your_love=moon333

    KuCoin is one of the best exchange to find crypto gems:

    https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3

    Link for Binance exchange, to trade crypto:

    https://www.binance.com/?ref=11256882

    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.

    Tags :

    hodlcommunity leofinance hive bitcoin btc cryptocurrency crypto

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