đ Market Analysis: Almost There (Part One) đ
Trading requires focus on risk management đ and comprehensive market analysis đ. Patience is key; the longer we wait, the clearer the marketâs story becomes.
đ Todayâs Analysis Covers:
â
Price Action (Naked Trade)
â
Harmonic Patterns (Fibonacci Alignment)
â
Elliott Wave Theory
đ Case Study: BAT Coin
Our focus is on BAT Coin, but similar patterns appear in Zcash, NEI, Polkadot, ZEC, FIL, Shiba,Tezos, EOS,Avax, Doge, IOTA, and BTC.
As highlighted in yesterdayâs review đď¸, when multiple charts show the same pattern, it signals something significant đ.
đ Key Observations:
1. Price Action đ
On the daily chart, the market revisits previous rally points, forming a support zone đ.
Bollinger Bands reveal price at the lower band, a potential support zone.
2. Momentum Indicators đ
Price is at support, while RSI, CCI, and Stochastic are in the oversold zone â ď¸, hinting at a possible turning point đ.
The chart forms a small "h" pattern, potentially reversing into a capital "H" at resistance.
3. Candlestick Patterns đŻď¸
Over the past 10 days, price movement is confined within a long bearish candlestick, indicating the need for a revisit to confirm the fair value gap or supply zone đ.
4. Todayâs Prediction đŽ
Expect a small candle, A Hammer or an engulfing pattern, but the market will ultimately guide the outcome.
đ Final Thoughts:
The market remains in transition đŚ, with no clear direction yet. Trading demands patience, discipline, and professionalism. ⨠Stay focused, and let the market lead you toward success.
đĄ Stay tuned for Part Two at noon đ, covering:
đ Harmonic Pattern Analysis
đ Elliott Wave Theory
đ˘ Follow for updates, share insights, and join us in this professional trading journey! đ
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