Bandbitcoin
BAND/BTC (Daily Bear Break)💎Technical Analysis Summary💎
BINANCE: BANDBTC
-BAND fell below its key level of support around 51k sat area
-Currently, it is a consolidation of the potential bear flag
-This is not good in the short term price action
-If you are looking for a good position swing entry
-Wait for the price to reach the next key level
-And patiently look for bullish signs
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BANDBTC forming bullish BAT | Upto 361% move expectedHi, my friends hope you are well, there is another bullish wave possible by the price action of the BAND protocol token.
Formation of bullish BAT pattern:
This time on a 4-day chart the BAND token is forming a harmonic bullish BAT pattern and soon it will be entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern and its Fibonacci sequence should be:
Potential reversal or buying zone: 0.00040957 to 0.0002697 btc
Fibonacci projection or sell zone: 0.00074126 to 0.001246 btc
Stop Loss:
The potential reversal zone area that is up to 0.0002697 btc can be used as stop loss in case of complete candlestick opens and closes below this level.
Possible profit and loss ratio:
As per the above targets, this trade has the profit possibility of 361% and as per the above-mentioned stop loss, the loss possibility is 34%
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BAND ANALYSIS (RETRACE IN PROGRESS!)BAND ANALYSIS:
BAND has been rejected since hitting a top at over 3870 sats! BAND is now struggling to maintain above the 50MA after one small bounce. I expect BAND to retrace a bit further down to a potential buy zone and what could be a short term support line at 3000-3150 sats. This is a great entry point, as a double top would then be expect at T1 of 3602 sats, and lastly T2 at 3710 sats. The volume saw a major sell wick and has been decreasing along side the retrace. The current relief rally should give out and fall further into the buy zone. Stagger long bids inside this zone!
Potential buy zone: 3000-3150 sats