A local uptrend within this channel has broken through, thereby confirming the formation of the “Inverted Dragon” figure.
Short targets and at the same time points for observing a price reversal:
1) Hump level.
2) The of the local and global horizontal channel (very strong level).
3) Head Level (at the same time minimum price).
The local horizontal channel has a step of 44%.
The global horizontal channel has a step of 160%
I showed entry points on the chart.
The trading potential in the local channel is from +30 to + 40%. Also, if the price breaks through and fixes above the channel resistance line, the local growth potential is still the height of the previous channel by + 40%, the next strong resistance is at this level.
You can also enter at the head level of the inverted dragon when confirming support. It is unlikely that the price will fall to this level, but you need to be prepared for those things that seem unlikely.
It all depends on the breakthrough / retention of those zones that I showed on the chart.
I have been trading the BAT coin for over a year. I took all the main price movements. True, from only 100% of the movement, I took averaging 60-80% of the price movement.
Here in this trading idea I showed a global channel.
BAT is at the bottom of its former channel Potential + 140%
A teaching idea where a detailed review of the "Inverted Dragon" formation is made