Hello Crypto Friends!!

Lets have another look at BAT.

This was my original thoughts -

Now the question remains. Does it break out?? 

As we can see, all the Moving averages are now in bearish formation, the 100 has just crossed the 200 on the 4 hr chart.

Obviously BTC will effect how BAT will perform here.

However just by looking at this chart, we can see the RSI has come right up into the bullish control zone, but the price is still within a "range". between the 0.5fib and 618.  

The MFI is not really showing too much here yet, i think the next 16 hours or so should give us some indication as to what BAT wants to do in this area...

This candle is about to close within 30 mins, it is a bullish engulfing, but in the context of where this candle has formed, i would not trade long from it.  I would like to see how it reacts to the 13 EMA which is making its way down and should be in range very shortly.

Will update again once we have some more data. 

Happy Trading!