Hello, fellow crypto-enthusiasts.
I would like to present you the short term future of #BAT.
One off the many tokens with a very bright future.
Because this token is widely traded, old-school TA works like a charm.
I make use off Fibonacci levels, Elliott Waves and Wykoff principles.
On this image, you see how BAT is consolidating and is currently in an accumulation area.
This means that traders are accumulating coins/buying.
So, if you haven't done that already, let me tell you why I bought.
I love price action trading, and Richard Wykoff loved it as well.
I studied this method, and for me, it is one of the best and most profitable methods you can use.
At the moment, price is trading in Phase C of the accumulation phase. Price just bounced at the support level of the trading channel. This was the SPRING. Now we will see a short period of consolidation before price enters Phase D. In this phase, price will flirt with the resistance and show some SOS (sign of strength) and will find support (LPS) before jumping over the area of resistance. Now a bull-flag will unveil itself before price goes in Phase E.
In PHASE E, the price will continue to rise to the levels described below.
SOS—sign of strength
LPS—last point of support
Following are the short-term targets. (2-months)
IF you want the full technical analysis, please comment in the section below.
THANKS FOR THE TIP!