Hibernating BAT, Long

١٨ مايو ٢٠١٨

Weekly
Looking at our highest timeframe we see price has formed a wammie double bottom. Price has recently struck major resistance @ 5000 satoshis. Last week left BAT was indecisive on which direction it wanted to head. This weak we have not seen much of a change. Price has formed higher low @ 4000 satoshis, however Stochastic RSI showing momentum is bearish.


Daily
Shifting over to our pattern timeframe we see price has remained above our trendline. On May 11 price went as low as 3500 satoshis only to be rejected immediately. Price has since remained in a tight zone waiting for a break. Stochastic RSI showing momentum is bullish, a daily close above 4700 satoshis activates our trade. However a daily close below 4000 satoshis leads to break towards 3000 satoshis.

Conclusion
Wait for daily close above 4700 for a long entry / Wait for a bounce off 3000 satoshis if we break toward the downside.