BAT/USDT
1D/4H Charts
Looking similar to other ALT setups across the market, bullish.
After the may crash buyers accumulated BAT in the daily demand, showing long rejection wicks with high volume signalling buyer intension. It formed a falling wedge breakout creating a new uptrend and respecting the existing major trend.
This created a new higher high and higher low. However we are still under resistance having rejected from it creating another smaller bullish falling wedge with a breakout with higher volume on the upwards move and less on the correction showing harmony in the move up. The correction pulled into the golden fib and created multiple bullish pin bar closes on the daily chart giving confluence of a continuation in line with the trend.
The 4H showing yet another smaller contracting triangle into the golden fib and 4H demand zone with rejections and high volume signalling buyer presence. MACD showing momentum increasing heading to towards the centreline for a bullish crossover signal just adds slight more confluence to the already bullish setup here.
Id expect to see price head towards the resistance level and into daily supply above. Fib projection shown and would expect to see price take out the high and head towards the 1.272 fib if momentum continues.
1D/4H Charts
Looking similar to other ALT setups across the market, bullish.
After the may crash buyers accumulated BAT in the daily demand, showing long rejection wicks with high volume signalling buyer intension. It formed a falling wedge breakout creating a new uptrend and respecting the existing major trend.
This created a new higher high and higher low. However we are still under resistance having rejected from it creating another smaller bullish falling wedge with a breakout with higher volume on the upwards move and less on the correction showing harmony in the move up. The correction pulled into the golden fib and created multiple bullish pin bar closes on the daily chart giving confluence of a continuation in line with the trend.
The 4H showing yet another smaller contracting triangle into the golden fib and 4H demand zone with rejections and high volume signalling buyer presence. MACD showing momentum increasing heading to towards the centreline for a bullish crossover signal just adds slight more confluence to the already bullish setup here.
Id expect to see price head towards the resistance level and into daily supply above. Fib projection shown and would expect to see price take out the high and head towards the 1.272 fib if momentum continues.
