The Bearish Bat pattern is a bearish reversal pattern that forms in uptrends. It is characterized by a strong bullish move followed by a retracement that ends at the 38.2% Fibonacci retracement level. The second leg of the pattern then forms a bearish move that is equal in length to the first leg, creating the shape of a "bat." In Ethereum, this pattern would suggest that the price of Ethereum is likely to decrease in the future.
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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.