Loading BAT for the 5th Elliot wave
This is a price hypothesis for BAT/BTC based on Elliot Waves, Fibonacci Ret (0.5 on Ret 90 at 1 day chart) and exponential moving averages.
The EMA 20 would act as a trigger for the 5th wave crossing the 0.5 Fibonacci (the middle line on the purple rectangle).
So, now we should load BAT on it’s way towards the EMA 20 and sell on top of the working area (purple rectangle)
Good trades to you all!
The EMA 20 would act as a trigger for the 5th wave crossing the 0.5 Fibonacci (the middle line on the purple rectangle).
So, now we should load BAT on it’s way towards the EMA 20 and sell on top of the working area (purple rectangle)
Good trades to you all!
Comment:
We reached the expensive part of the working area and the market reacted with a red candle. We can still go up and we will probably test the resistance again, but without enough strength it will go the opposite direction.