LTCBTC almost completed big Butterfly move | Upto 400% expected
On the long-term weekly chart, the price action of Litecoin has almost completed the last leg of the bullish Butterfly pattern and soon it will be entered in the potential reversal zone. I have placed the pattern up to 1.618 Fib only for the educational purpose otherwise it is not possible that the priceline may enter in the negative zone. Previously I shared an idea of litecoin’s big bullish BAT, so the maximum extent of the potential reversal zone can be considered as the maximum buying zone for this Butterfly move as well.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: 0.003624 to 0.002939 btc
Fibonacci projection or sell zone: 0.006881 to 0.014916 btc
Stop loss:
The maximum extent of potential reversal zone 0.002939 btc can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 400%, and the loss possibility is only 19%.
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.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: 0.003624 to 0.002939 btc
Fibonacci projection or sell zone: 0.006881 to 0.014916 btc
Stop loss:
The maximum extent of potential reversal zone 0.002939 btc can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 400%, and the loss possibility is only 19%.
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.