Hi dear patrons, hope you are well and welcome to the new update on Skycoin with Bitcoin pair.
On the 2-day time frame chart, the price action has formed the final leg of the bullish Gartley pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: 0.00005840 to 0.00004797 btc
Sell between: 0.00006662 to 0.00008635 btc
Stop loss:
The maximum extent of potential reversal zone to 0.00004797 btc can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility up to 80% and a loss possibility is 18%.
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 the 2-day time frame chart, the price action has formed the final leg of the bullish Gartley pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: 0.00005840 to 0.00004797 btc
Sell between: 0.00006662 to 0.00008635 btc
Stop loss:
The maximum extent of potential reversal zone to 0.00004797 btc can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility up to 80% and a loss possibility is 18%.
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