BITCOIN is Formation BULLISH BUTTERFLY - Potential for Reversal!
Hey Everyone,
In our previous Trade on BITCOIN we sold it from $8200 area as both the 200D WMA and MA were hit with an overbought momentum.
Now, we're BUYING it for a short period as correction is needed and as per the Technicals,
on H4 Chart HARMONIC PATTERN - BULLISH BUTTERFLY is Identified in accordance with
major Dynamic support Entering in Demand Zone where Major Fibonacci Level 0.618 is plotting
right at current Pivot (our Buying Zone)
and hence from Technical side it's pretty much Bullish and currently Fundamentals are also clear
but NOTE: BITCOIN or any other cryptocurrency asset works 80% upon Fundamental approach
so take this particular analysis as a directional trade,
Overall Conclusion - BULLISH (For Short Term)
More updates will be posted under this thread,
have any doubts? then, let us know in the comment section below
and make sure to give this analysis a Thumbs UP +_+
In our previous Trade on BITCOIN we sold it from $8200 area as both the 200D WMA and MA were hit with an overbought momentum.
Now, we're BUYING it for a short period as correction is needed and as per the Technicals,
on H4 Chart HARMONIC PATTERN - BULLISH BUTTERFLY is Identified in accordance with
major Dynamic support Entering in Demand Zone where Major Fibonacci Level 0.618 is plotting
right at current Pivot (our Buying Zone)
and hence from Technical side it's pretty much Bullish and currently Fundamentals are also clear
but NOTE: BITCOIN or any other cryptocurrency asset works 80% upon Fundamental approach
so take this particular analysis as a directional trade,
Overall Conclusion - BULLISH (For Short Term)
More updates will be posted under this thread,
have any doubts? then, let us know in the comment section below
and make sure to give this analysis a Thumbs UP +_+
Trade closed: stop reached:
FAILED TERRIBLY on this one!
