BAT Third Wave
Updated
The coin is in a downtrend.
We saw a wave 1, maybe can be finish a correction wave 2, and now starting a wave 3.
Stoch RSI is rising, so there is a possibility of going up.
We need more volume to get larger values.
There are some resistances to consider:
The 20 EMA has shown strong resistance, after the 50 EMA.
We are to an average break of 20 EMA, we need to close this candle above it, so we can try an order to the 50 EMA (4% profit).
Our biggest challenge for a significant rally is breaking the 200 SMA, where we also have a resistance line and the 38 fibonacci, I put on the chart "resistance zone".
Breaking this region we can try the previous top, the value of 0,28 USDT, and afterwards the projection of 100% of fibonnaci (value of 0,3120 USDT)
We saw a wave 1, maybe can be finish a correction wave 2, and now starting a wave 3.
Stoch RSI is rising, so there is a possibility of going up.
We need more volume to get larger values.
There are some resistances to consider:
The 20 EMA has shown strong resistance, after the 50 EMA.
We are to an average break of 20 EMA, we need to close this candle above it, so we can try an order to the 50 EMA (4% profit).
Our biggest challenge for a significant rally is breaking the 200 SMA, where we also have a resistance line and the 38 fibonacci, I put on the chart "resistance zone".
Breaking this region we can try the previous top, the value of 0,28 USDT, and afterwards the projection of 100% of fibonnaci (value of 0,3120 USDT)
Note
That is sad, but the bitcoin down and BAT followed.Let's see with attention for a short position.
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