Gmanns777

BAT on BAT: what the hell is going on??

Short
BITFINEX:BATUSD   Basic Attention Token / Dollar
As the proud user of the Brave browser I was looking for a place where it made sense to get some BAT. Then I saw a virtually perfect bearish BAT pattern... holeee shit :D

In the video i plot the pattern, discuss the pattern and then move on to what seems to be the beginnings of a Butterfly pattern .... what that essentially means is should this pattern work, price could make a C in the Butterfly which will allow me to get some BAT and trade it up to the 1.272 or 1.681 extension.

I will likely make a separate video on this should price head to where I think it might.

Have a good one!
Comment: moved the Fib to previous high... that being the case B is a little under 38.2% but price is right at D 88.6% level now.

With this weeks R3 being exceeded and missed central pivot and the fact that next weeks weekly central pivot will be below current price I think this week will see a retracement.

Comment: sorry wrong chart

Comments

So you don't take into consideration the big news of the partnership announcement with Dow Jones Media? I know you said you try to view things on just a technical basis, but surely when relevant news increases an assets value then the bat pattern you identified becomes irrelevant? Especially with the market showing some signs of clawing back up (which will take quite awhile to get back to ATH), how can you say that BAT will fall below a level it was before the Dow Jones media partnership was announced less than a week after it? Honest question, looking forward to your response. Cheers mate
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