BAT Analysis
Yesterday, BAT found strong support near $0.58. It bounced very quick in the same day and closed at its open price, formed a dragonfly doji candlestick. That’s an optimistic sign at least in the short term, because it seems that large traders entered the market.
Low volume (locally higher buy volume). Maybe the last weak hands are eventually out of the market.
The first bullish sign of strength came today, with a full green candle.
Conservative traders may wait the bearish trendline breakout, before placing their bids.
Aggressive traders may buy at the current price or wait a correction (if occur) at the trendline resistance.
The next crucial resistance is near $1.00 – psychological resistance.
If nothing happened in the world like a new war, we will see a new high in the next weeks or months.
Trading is a probability game. There is no perfection in that.
Market is unpredictable. Stay to your plan. Do not panic sell.
Low volume (locally higher buy volume). Maybe the last weak hands are eventually out of the market.
The first bullish sign of strength came today, with a full green candle.
Conservative traders may wait the bearish trendline breakout, before placing their bids.
Aggressive traders may buy at the current price or wait a correction (if occur) at the trendline resistance.
The next crucial resistance is near $1.00 – psychological resistance.
If nothing happened in the world like a new war, we will see a new high in the next weeks or months.
Trading is a probability game. There is no perfection in that.
Market is unpredictable. Stay to your plan. Do not panic sell.
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