Updated
MAID/BTC - Bullish Butterfly
What's up traders, today I'm looking at MAID/BTC on the 1h chart with a bullish butterfly pattern, this has some serious potential.
The measurements for a valid butterfly pattern are detailed below.
B: 0.786
C: 0.382 - 0.886
D: 1.618 - 2.24
X to D: 1.272
The completion of this pattern aligns with the all time low for the asset, meaning it is a crucial area of support and a key area to buy at depression lows.
In addition a 1.13 A, B, C extension completes in the potential reversal zone further confirming this zone.
I'll be waiting until the pattern completes before placing the trade.
As always feel free to connect with me below!
The measurements for a valid butterfly pattern are detailed below.
B: 0.786
C: 0.382 - 0.886
D: 1.618 - 2.24
X to D: 1.272
The completion of this pattern aligns with the all time low for the asset, meaning it is a crucial area of support and a key area to buy at depression lows.
In addition a 1.13 A, B, C extension completes in the potential reversal zone further confirming this zone.
I'll be waiting until the pattern completes before placing the trade.
As always feel free to connect with me below!
Note
Quick breakdown on market structureNote
A quick update on structure, we will see more activity shortly.Note
MAID/BTC, pattern complete, price is sitting in a key demand zone.I will be updating my analysis!
📈 Master the Art and Science of Trading: sixfigurecapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.