Another pattern has been formed:
This time on 12 hour chart after successful formation of previous pattern the Ripple with Bitcoin pair has formed another pattern and entered in potential reversal zone and ready to move up at any time.
Let’s dig the pattern deeper to see how perfect it has been formed.
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.328 to 0.886 Fib of A to B area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to should be:
Buy between: 0.00002573 to 0.00002519 sats
Sell betweeen: 0.00002703 to 0.00002896 sats
So this short term trade can produce upto 14% profit.
The potential reversal zone area that is up to to $0.00002519 can be used as stop loss in case of complete candle stick opens and closes below this level.
Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own reaserch before any investment.