BCH completed Butterfly move for almost 400% big move
Hi dear friends, hope you are well, and welcome to the new update on Bitcoin Cash.
On the long-term monthly chart, the price action of the BCH with Bitcoin pair has completed the last leg of the bullish Butterfly pattern and entered the potential reversal zone. The 1.618 Fibonacci retracement level goes in the negative zone and it is not possible for the priceline to enter the negative territory, sofar the priceline has found good support at 0.01052 btc , therefore I have set the buying range from 1.27 Fib level to 0.01052 btc , however, if in the near future there will be some changes, like the priceline finds any new support then I will be keep sharing with you.
There is also a very good downtrend line support as well.
This trade has a huge profit possibility of 399%, and the high loss possibility upto 9%.
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 long-term monthly chart, the price action of the BCH with Bitcoin pair has completed the last leg of the bullish Butterfly pattern and entered the potential reversal zone. The 1.618 Fibonacci retracement level goes in the negative zone and it is not possible for the priceline to enter the negative territory, sofar the priceline has found good support at 0.01052 btc , therefore I have set the buying range from 1.27 Fib level to 0.01052 btc , however, if in the near future there will be some changes, like the priceline finds any new support then I will be keep sharing with you.
There is also a very good downtrend line support as well.
This trade has a huge profit possibility of 399%, and the high loss possibility upto 9%.
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.