Bounce, Bounce, Bounce... BATUSD ready to fly now?!?!?
Updated
Hello Trading View Community,
After bouncing and making what looks like a triple bottom around the 0.45 zone, looks like BATUSD might try to push out of the current resistance and test our 0.382 Fib level. RSI has also been confirming a bullish trend but one thing to note is the small bearish divergence that may by forming but has not been confirmed.
Thank you guys for checking out this idea on BATUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise
After bouncing and making what looks like a triple bottom around the 0.45 zone, looks like BATUSD might try to push out of the current resistance and test our 0.382 Fib level. RSI has also been confirming a bullish trend but one thing to note is the small bearish divergence that may by forming but has not been confirmed.
Thank you guys for checking out this idea on BATUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise
Trade active
BATUSD has struggled all weekend getting over this current resistance area. Today however, it was finally able to break above said zone and is now attempting to use it as support. If it can hold this support, price should start to move up towards our first green target area. One thing to keep in mind is the small bearish divergence printed on the RSI. If we fail to hold support price may come back down and retest EMA cluster below. Thank you guys for checking out this idea on BATUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise
Trade active
BATUSD after a week struggling to break over the resistance zone, not only did it breakout but went straight to our first target. I've gone ahead and closed a good portion of the position and left runners with stop loss now at entry. Winning trade from now on! What can be expected next??
This target zone should act as a resistance zone and we could see a small pull back maybe down to the previous resistance level now turned support, before BATUSD continuation towards the 0.5 fib level.
Looking at our EMAs, we see 50 EMA (yellow line) trying to make a golden cross with 200 EMA (red line), there's also a hidden bullish diversion playing out on the RSI.
All and all, BATUSD continues to remain bullish but we must pay attention to this resistance level and also BTCUSD.
Thank you guys for checking out this idea on BATUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
Telegram: t.me/BlizzView 🔥🔥🔥
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.