Hi patrons, hope you are well, and welcome to the new update on Ethereum coin.
On long-term weekly chart chart, After formation of BAT and Gartley patterns, the priceline of ETH with BTC pair is completing the formation of bullish Cypher pattern and soon it will be entered the potential reversal zone There are also 50 and 100 simple moving averages supports in this buying zone.
Buying and sell targets:
The buying zone starts form 0.618 to 0.786 Fibonacci levels, and the sell zone can be the Fibonacci projection between 0.382 to 0.786 as below:
Potential reversal or buying zone: 0.0306 to 0.0264 btc
Fibonacci projection or sell zone: 0.0339 to 0.0419 btc
Stop loss:
The maximum extent of potential reversal zone at 0.786 Fib level can be used as stop loss, that is 0.0264 btc.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 58.5%, and the loss possibility is 14%.
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.
On long-term weekly chart chart, After formation of BAT and Gartley patterns, the priceline of ETH with BTC pair is completing the formation of bullish Cypher pattern and soon it will be entered the potential reversal zone There are also 50 and 100 simple moving averages supports in this buying zone.
Buying and sell targets:
The buying zone starts form 0.618 to 0.786 Fibonacci levels, and the sell zone can be the Fibonacci projection between 0.382 to 0.786 as below:
Potential reversal or buying zone: 0.0306 to 0.0264 btc
Fibonacci projection or sell zone: 0.0339 to 0.0419 btc
Stop loss:
The maximum extent of potential reversal zone at 0.786 Fib level can be used as stop loss, that is 0.0264 btc.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 58.5%, and the loss possibility is 14%.
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.