Hello Crypto Friends!

Just a quick update on my previous post on BAT.

Price did come up and test the 0.5 fib. But the test of the top wedge trend line not looking likely. 

Here is why -

An obvious descending triangle forming. Measured move down to $0.18 usd. The RSI is in a flag, or ascending wedge. notice it is moving up whilst price is going down.

So the 0.786 is still my target, mainly due to my analysis of BTC having further to drop.

its a little further than the triangle measured move, but would make sense to actually reach it before bouncing up to hopefully test and break the wedge!

This would put BAT below the 200MA on the daily -

The 200Ma would then line up with the trend line in the next coming weeks. Which would prove to be some resistance. So i would expect some kind of "W" move, before breaking upwards again.

Indicators will all flash nice buy signals at the .786 too.

Get ready to stack up on BAT. Haha (not financial advice!)

Happy Trading!!