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haroonsiddiki

BTC-USD ✦ LONG SETUP ✦ ONE HOUR✦HARMONIC✦ POSSIBLE REVERSAL

Long
Bitcoin (BITSTAMP:BTCUSD)  
haroonsiddiki Updated   
BITSTAMP:BTCUSD   Bitcoin
Butterfly btcusdanalysis trading tradingideas tradingsignals harmonictraders Bearish Butterfly cryptosignals bitcoinlong bitcoinpriceprediction
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butterflypattern btcusdanalysis trading tradingideas tradingsignals harmonictraders bearishbutterfly cryptosignals bitcoinlong bitcoinpriceprediction
BITCOIN (BTC) started to move in a bullish direction after a noticeable downfall. However, there is a big resistance zone which can stop BTC to move further in a Bullish Direction. Therefore, this trading idea is designed to capture the reversal trend using Harmonic Pattern Technique. Bearish Butterfly Harmonic Pattern is forming on one hour time frame and it is expected that BTC will take reversal from Point D (Potential Reversal Zone) mentioned in the chart. In addition, Presence of Divergence is negative at the current price level which can further lead to bullish movement of the instrument till PRZ. Thus, current situation can be favorable to grab the Long Trade opportunity before the reversal of the instrument. However, only TP1 is suggested in this trade due to expected reversal of BTC price from PRZ.
Trade closed: stop reached:
BTC reversed from the PRZ zone given in the chart. However, it didnt reach to TP1 level and reversed back to SL. Trade Closed
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