Follow up to my "Bull or Bear" plot here (click).
And that was a follow up to my Topping Call here.
BAT is again at a crucial desicsion point.
This resistance zone COULD be the top.
But I think likely one more leg, to go.
0.2320-2331 is immediate resistance and breakout out zone.
0.2415-2425 will be first reistance and likely pull back a bit.
Hi Beautiful peopleeee on the weekend!!
Looking at the Daily BATUSD chart, you can see BAT did break big red trend line to go upward. It came with strong bullish divergence on MACD and RSI as well as the price currently stay on top of 21 daily EMA which is bullish sign.
From these reasons, I see a opportunity here to go long with a tight stop loss around...
Follow up to my Previous Plot calling for 23 cent top (click).
My previous analysis above played out precisely.
Now we are approaching a crucial decision point.
The two scenarios are equally probable right now.
0.218/219 is the first possible bounce zone.
0.212/213 should be strong support either case.
0.183/185 is last support to maintain uptrend.
If you buy BAT slowly between 0.15494740 and 0.19916, you will have good results next year.
If you climb above 0.376627435 in the upcoming bull market, you may want to wait until you come below 0.15494740.
BAT has recovered nicely from the last dump.
It has surpassed previos highs and not rejected.
But it is coming up on a logical wave end point.
The EW plot is a pure guess but the Zones are solid.
Ideally the pullback will not breach first support. (0.2163-0.2197)
But even a bounce there might peter out and fall. (wave B into C)
See some of my other plots...
-Lots of action in a relatively tight range for several weeks now, roughly the $0.20 - $0.16 region.
-Alt run in action
-Band hits for default KC 1.25 have been a good indicator for reversal (either way).
-Volume lulls frequently lead to high volatility periods, and has shown on this chart.
-21w ROC has a well-validated buying level at roughly -65%.
BAT is up against first "hint" of resistance.
A "Pause" here is expectable and welcome.
But it should me minor, if Bulls are serious.
0.1743 is immediate resistance that better not hold very long.
.1834-.1855 is first serious resistance to be concerned about.
.2036-.2105 will be very strong resistance and downtrend border.
See some of my other plots and...