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BAT/USDT Potential Upward Movement

BAT/USDT Price Long-Term: Bullish

Key Resistance Levels: 0.6440, 0.6750, 0.7000

Key Support Levels: 0.4000, 0.3626, 0.2890

Daily Chart:

On the daily time frame, the price was in an uptrend before posting  a correction count in a form of a bullish flag formation. This flag pattern pushed the price toward the 61.80 % Fibonacci retracement level where it found new buyers. The price succeeded to break the flag formation to the upside and now it is trading above the daily resistance level (0.6440).

BAT/USDT Medium-Term Trend: Bearish

1-hour Chart:

On the 1-hr time frame, the price also is in an upward movement, and it posted a correction count to the confluence zone between the 61.8% Fibonacci level and a strong support. This might lead to a move upward to the 0.7563 mark.

Signal Idea:

Buy Market Order @ 0.7152

TP 1 @ 0.7563

TP 2 @ 0.7600

Stop Loss @ 0.6989

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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