BAT/USDT
.3476 was a possible support level that was broken and could become resistance. It also lines up with the .382 fib level.
Red trend line has been major resistance tested multiple times during this down trend.
12 and 26 EMA's have become resistance.
All bearish signs.
Last major areas of possible support are at .2903 and .2629. The golden zone on the fib retracement also falls into this area. I'm targeting that range to ladder into a long or looking for a break and retest of the trendline.
A short term a move above that .347 price level could provide a short term bounce but until that trendline is broken I think BAT is looking like it's got further to drop.
Besides a couple possible smaller bounce plays BAT is looking pretty bearish but I'm looking for the longer term bullish trade setup.
.3476 was a possible support level that was broken and could become resistance. It also lines up with the .382 fib level.
Red trend line has been major resistance tested multiple times during this down trend.
12 and 26 EMA's have become resistance.
All bearish signs.
Last major areas of possible support are at .2903 and .2629. The golden zone on the fib retracement also falls into this area. I'm targeting that range to ladder into a long or looking for a break and retest of the trendline.
A short term a move above that .347 price level could provide a short term bounce but until that trendline is broken I think BAT is looking like it's got further to drop.
Besides a couple possible smaller bounce plays BAT is looking pretty bearish but I'm looking for the longer term bullish trade setup.