We made amazing money on this pair during that last run up and here we are again. This pair appears to be readying for a move up. We can see price bouncing out of a demand zone as RSI prints bullish divergence. Price has also printed the yellow descending wedge. The grey zones above price are supply zones which may impede price as it moves, but ultimately we should see it targeting the top of the large ascending channel, just above the ATH, and into price discovery beyond that. Based on the height of the channel, that's likely to be at least 16540 sats. Price's immediate target, however, is the EQ of the supply zone just below the R1 pivot and the ascending channel's EQ as shown (around 5880 sats). The funny blue descending lines around price are called a Chuvashov Fork. A breach of the blue line just above price should indicate that a price reversal has occurred and, as such, we should be looking for price to head up. That also happens to be the 21 EMA (purple line).
1. The cryptocurrency market is extremely volatile.
2. Targets are potential expected reach, not guaranteed.
3. Resistance and support levels are elastic, not static.
4. We cannot advise you when to enter or exit a trade, only provide the trade set up as it appears at the time, so trade accordingly.
5. Traders should never trade more than they can afford to lose as each trade is based on possibilities, not guarantees.
DISCLAIMER: We DO currently hold BAT.
Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
1. The cryptocurrency market is extremely volatile.
2. Targets are potential expected reach, not guaranteed.
3. Resistance and support levels are elastic, not static.
4. We cannot advise you when to enter or exit a trade, only provide the trade set up as it appears at the time, so trade accordingly.
5. Traders should never trade more than they can afford to lose as each trade is based on possibilities, not guarantees.
DISCLAIMER: We DO currently hold BAT.
Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
