BATUSDT found resistance |all indicators,patterns are bullish
On day chart the price action of Basic Attention Token (BAT) has found $0.1959 and resistance at $0.1487 this support of 0.1487 dollar was found 29 Aug 2019 when the price action took drop more than 29% upto $0.1326 but since then the priceline could not break down this support.
Sofar this support has been found very firm therefore we can expect a breakout form here or more sideways move at this level for some more time.
Indicators and Oscillators:
Price action is hitting the upper band of Bollinger bands and the mouth of bollinger bands is expanding and moving up.
Relative Strength Index (RSI) was oversold up till 18 Dec and now bullish.
Moving average convergence divergence (MACD) is strong bullish.
And if we see the Directional movement the +DI has crossed up -DI and ADX is above 29 level and giving strong bullish signals.
On 12hr chart the Ichimoku cloud is turned bullish and lagging span of ichimoku cloud has crossed up the priceline and the price action has also crossed up the bearish cloud on the other hand the chop zone has also given strong bullish signals by turning bullish.
Moving Averages:
If we see the simple moving averages with time period of 25 50 100 and 200 the we have the same position as we had in Sep 2019 the order of moving averages was as:
25MA was below all then we had 50MA then 100MA and then 200 simple moving average was above all then on 3rd Nov 2019 a complete alligator mouth was opened which was formed with 25MA , 50MA and 100 simple moving average but 200MA was not able to be the part of this alligator mouth and the price action turned bullish and hit the $0.2784 which was the highest point since Sep 2019 to the date of writing.
The moving averages are likely to make the same move and 25MA has crossed down the price action and pushed the candles sticks up now the price line has hit the 50MA and 50MA is likely to cross down the price action soon and this will also lead to the golden cross between 25MA and 50MA then a strong bullish divergence can push the price action more to cross up the 100SMA and then the price action will hit the 200SMA and if the price action will be able to cross up the 200 simple moving average then we can see a complete alligator opened mouth between all these simple moving averages and the price action can hit the second resistance level at $0.2695 and if this resistance level will be broken then a strong bull run can be observed.
The Harmonic Move:
In my previous predicted that Basic Attention Token has formed the Shark pattern and it will hit the projection area of 0.382 to 0.786 Fibonacci of C to D leg of this Shark pattern and below was the article:
Now you can see sofar the price action has taken the bullish divergence form the potential reversal zone of this Shark pattern and entered in this projection zone as I predicted Alhamdulillah and sofar it has produced more than 25% gains this is a very positive signal but we need a breakout the 0.786 Fibonacci projection level in order to start a real bull run and as we have see above all signals from moving averages and indicators are turning bullish so it is really possible
So guys be ready I hope this prediction will be full filled soon as my previous article however if you have any suggestion and ideas you can share in comments section with me.
Thanks and Regards,
Atif Akbar (moon333)
Sofar this support has been found very firm therefore we can expect a breakout form here or more sideways move at this level for some more time.
Indicators and Oscillators:
Price action is hitting the upper band of Bollinger bands and the mouth of bollinger bands is expanding and moving up.
Relative Strength Index (RSI) was oversold up till 18 Dec and now bullish.
Moving average convergence divergence (MACD) is strong bullish.
And if we see the Directional movement the +DI has crossed up -DI and ADX is above 29 level and giving strong bullish signals.
On 12hr chart the Ichimoku cloud is turned bullish and lagging span of ichimoku cloud has crossed up the priceline and the price action has also crossed up the bearish cloud on the other hand the chop zone has also given strong bullish signals by turning bullish.
Moving Averages:
If we see the simple moving averages with time period of 25 50 100 and 200 the we have the same position as we had in Sep 2019 the order of moving averages was as:
25MA was below all then we had 50MA then 100MA and then 200 simple moving average was above all then on 3rd Nov 2019 a complete alligator mouth was opened which was formed with 25MA , 50MA and 100 simple moving average but 200MA was not able to be the part of this alligator mouth and the price action turned bullish and hit the $0.2784 which was the highest point since Sep 2019 to the date of writing.
The moving averages are likely to make the same move and 25MA has crossed down the price action and pushed the candles sticks up now the price line has hit the 50MA and 50MA is likely to cross down the price action soon and this will also lead to the golden cross between 25MA and 50MA then a strong bullish divergence can push the price action more to cross up the 100SMA and then the price action will hit the 200SMA and if the price action will be able to cross up the 200 simple moving average then we can see a complete alligator opened mouth between all these simple moving averages and the price action can hit the second resistance level at $0.2695 and if this resistance level will be broken then a strong bull run can be observed.
The Harmonic Move:
In my previous predicted that Basic Attention Token has formed the Shark pattern and it will hit the projection area of 0.382 to 0.786 Fibonacci of C to D leg of this Shark pattern and below was the article:
Now you can see sofar the price action has taken the bullish divergence form the potential reversal zone of this Shark pattern and entered in this projection zone as I predicted Alhamdulillah and sofar it has produced more than 25% gains this is a very positive signal but we need a breakout the 0.786 Fibonacci projection level in order to start a real bull run and as we have see above all signals from moving averages and indicators are turning bullish so it is really possible
So guys be ready I hope this prediction will be full filled soon as my previous article however if you have any suggestion and ideas you can share in comments section with me.
Thanks and Regards,
Atif Akbar (moon333)
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.