BAT Possibly start of the uptrend
Timeframe: 240M
Main Scenario: After having an explosive run movement last Monday, BAT resigned all the winnings and is now moving just below the central Pivot Point in this 4-H chart at 0.00003945. This coin has been moving strongly during the last 6 months and has good support.
The volumes are very low right now and the pair is moving in range since yesterday; the indicators are oversold and pointing up, we could possibly see the start of the uptrend. We can wait for a confirmation for and long entry if the price manages to cross the Central Pivot at 0.00004032
Alternative Scenario: The price could bounce in the Pivot and could fail to look for lower lows this week.
Entry/Stop Loss/ Take Profit: We would go long on this pair if the price crosses the Pivot at 0.00004035 with 2 targets
T1 = 0.00004203 (4.1 %)
T2 = 0.00004443 (10.1 %)
The Stop Loss can be placed at $ 0.00003832 (-4.3%)
Duration: 2-3 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A further drop below the Pivot S1 will invalidate this setup.
Risk Management: Risk/Reward Ratio: 2.05. If this becomes a valid setup we could have a profit between 4% and 10%.
Main Scenario: After having an explosive run movement last Monday, BAT resigned all the winnings and is now moving just below the central Pivot Point in this 4-H chart at 0.00003945. This coin has been moving strongly during the last 6 months and has good support.
The volumes are very low right now and the pair is moving in range since yesterday; the indicators are oversold and pointing up, we could possibly see the start of the uptrend. We can wait for a confirmation for and long entry if the price manages to cross the Central Pivot at 0.00004032
Alternative Scenario: The price could bounce in the Pivot and could fail to look for lower lows this week.
Entry/Stop Loss/ Take Profit: We would go long on this pair if the price crosses the Pivot at 0.00004035 with 2 targets
T1 = 0.00004203 (4.1 %)
T2 = 0.00004443 (10.1 %)
The Stop Loss can be placed at $ 0.00003832 (-4.3%)
Duration: 2-3 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A further drop below the Pivot S1 will invalidate this setup.
Risk Management: Risk/Reward Ratio: 2.05. If this becomes a valid setup we could have a profit between 4% and 10%.
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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.
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.