BAT Structural Resistance|Respecting Support|Probable Breakout
Evening Traders!
Today’s update will be on BATBTC, clearly supporting its trend line as projected direction is into structural resistance.
Points to consider,
- Trend putting in consecutive higher lows
- Structural resistance to break
- EMA’s providing current support
- RSI respecting trend line
- Stochastics neutral
- Healthy volume
BAT has been establishing consecutive higher lows; a higher high will confirm a change in the overall market structure. Structural resistance in a staunched level for the bulls to close above, this is an important level at the apex.
The EMA’s are providing current support, must hold true when structural resistance is breached.
RSI is respecting its trend line, looking healthy in this immediate uptrend into the apex. The stochastics on the other hand is neutral, stored momentum in both directions.
Volume has been healthy, must sustain an increase upon break of structural resistance.
Overall, in my opinion, BATBTC has a clear structural resistance to break in order to change overall market structure. A break needs to be backed with viable volume, target are at equivalent resistances.
What are your thoughts?
Please leave a like and comment,
A remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Today’s update will be on BATBTC, clearly supporting its trend line as projected direction is into structural resistance.
Points to consider,
- Trend putting in consecutive higher lows
- Structural resistance to break
- EMA’s providing current support
- RSI respecting trend line
- Stochastics neutral
- Healthy volume
BAT has been establishing consecutive higher lows; a higher high will confirm a change in the overall market structure. Structural resistance in a staunched level for the bulls to close above, this is an important level at the apex.
The EMA’s are providing current support, must hold true when structural resistance is breached.
RSI is respecting its trend line, looking healthy in this immediate uptrend into the apex. The stochastics on the other hand is neutral, stored momentum in both directions.
Volume has been healthy, must sustain an increase upon break of structural resistance.
Overall, in my opinion, BATBTC has a clear structural resistance to break in order to change overall market structure. A break needs to be backed with viable volume, target are at equivalent resistances.
What are your thoughts?
Please leave a like and comment,
A remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.