NANOBTC formed bullish Shark | Upto 44% move expected

The Priceline of World's 52th ranked out of more than 2300 cryptocurrencies NANO has formed bullish Shark pattern and entered in potential reversal zone and ready for bullish divergence at any time.

This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone.

Let’s have a look on the dimensions of NANO price action's moves:

After inertial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark and now we are entered in potential reversal zone of this bullish Shark pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move.

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As per Fibonacci sequence method we can set our targets as below for mid term trade:



Buy between: 0.0000886 to 0.0000793

Sell between: 0.0000966 to 0.0001149



So this trade has potential to produce upto 44% gains.



Regards,

Atif Akbar (moon333)