BAT.usd initial Rejection from Strong Resistance, retrace Levels

Followup to my previous post showing the Massive Resistance at 27 cents (click).

As expected, we have a pullback from the first Strong Resistance zone.
The pullback thus far looks to have "Fib Legs" so it might continue further.
Plotted are some key levels to watch for further clues about bull strength.

The rejection was a classic "double top" pattern, usually telling of a top.
The last leg down appears to have "fib rhythm" so it may well continue.
It is "possible" that retrace is complete, but "likely" another leg down.

See my Previous BAT analysis: (click links below)
27 cent Resistance
15 cent Bottom
23 cent Break Out
30 cent Break Down

I also plot Forex and Stocks, see my TV Profile Page.

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

Comment:

This might be THE ONE

We have a significant breach of the first resistance zone

It is still in early stages, but looks promising in this tf.

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Zoom IN (15 min) and we have several clues, most important one indicated by Blue Arrows:

Green 4.618 is the "important" fib here.
The other fibs acting like a buffer zone.
Ping from above on the green 4.618 is a VERY good sign.

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Zoom IN more (5 min) and adding a fib to he last bounce

Not a very clean fit, but not bad considering this thing really does move like a bat.
So I will go with this one for now, as the small tf fib of immediate relevance.

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Zoom OUT (1 hr) with new fib in place,

That few fib with others map 3 new possible Resistance zones
That blue fib is still on "probation", yet to really prove itself.
So I will be watching the new zones to confirm or deny the new fib.

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SUMMARY:
- Resistance breach looks great, should have a green light here.
- 3 new "tentative" resistance zones added, to be evaluated
- Still bullish and expecting a jump to 29 cents then we see whats what.

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Comment:

We have a BREACH!

Blew through the original resistance zone and first of the new zones added in last update above

This does NOT look like a bull trap because it is still going.

Now we see what happens at the next two resistance zones we added last update.
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