moon333

BCHUSDT formed bullish BAT | Upto 38% move expected

Long
BINANCE:BCHUSDT   Bitcoin Cash / TetherUS
On the daily chart , the price action of Bitcoin Cash has completed bullish BAT pattern, now it has entered in the potential reversal zone. There are also 100 and 200 simple moving averages supports in the potential reversal zone.

Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:

Potential reversal or buying zone: $262.77 to $248.88
Fibonacci projection or sell zone: $295.91 to $345.57

Stop Loss:
The potential reversal zone area that is up to $248.88 can be used as stop loss in case of complete candlestick closes below this level.

Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 38.8% and as per the above-mentioned stop loss, the loss possibility is 6%.

Note: Above idea is for educational purpose only.

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