Hello Traders,
After huge bitcoin correction in last couple days, there are few alt coins that stayed very strong. One of them is BATBTC!
Looking at the 4 hour chart, we see that BAT is forming this potential inverse head and shoulders pattern, which is a bullish sign.
I expect 4337 will be a heavy resistance for next few hours as we see this level acted as support three times in last month and it overlaps with EMA 50.
I want to see BAT to reinforce EMA 200 (roughly 4233 sats) as a critical support before next rally.
If you pay attention to RSI, 41.9 level just turned into support (red circle), which is another bullish signal.
My target for this trade is 5813 Satoshi. If BAT manages to break this inverse head and shoulders pattern, then my next target is 9238 Satoshi!
Happy Trading!
After huge bitcoin correction in last couple days, there are few alt coins that stayed very strong. One of them is BATBTC!
Looking at the 4 hour chart, we see that BAT is forming this potential inverse head and shoulders pattern, which is a bullish sign.
I expect 4337 will be a heavy resistance for next few hours as we see this level acted as support three times in last month and it overlaps with EMA 50.
I want to see BAT to reinforce EMA 200 (roughly 4233 sats) as a critical support before next rally.
If you pay attention to RSI, 41.9 level just turned into support (red circle), which is another bullish signal.
My target for this trade is 5813 Satoshi. If BAT manages to break this inverse head and shoulders pattern, then my next target is 9238 Satoshi!
Happy Trading!