๐ Market Analysis: Almost There (Part One) ๐
Trading requires focus on risk management ๐ and comprehensive market analysis ๐. Patience is key; the longer we wait, the clearer the marketโs story becomes.
๐ Todayโs Analysis Covers:
โ Price Action (Naked Trade)
โ Harmonic Patterns (Fibonacci Alignment)
โ Elliott Wave Theory
๐ Case Study: BAT Coin
Our focus is on BAT Coin, but similar patterns appear in Zcash, NEI, Polkadot, ZEC, FIL, Shiba,Tezos, EOS, Doge, IOTA, and BTC.
As highlighted in yesterdayโs review ๐๏ธ, when multiple charts show the same pattern, it signals something significant ๐.
๐ Key Observations:
1. Price Action ๐
On the daily chart, the market revisits previous rally points, forming a support zone ๐.
Bollinger Bands reveal price at the lower band, a potential support zone.
2. Momentum Indicators ๐
Price is at support, while RSI, CCI, and Stochastic are in the oversold zone โ ๏ธ, hinting at a possible turning point ๐.
The chart forms a small "h" pattern, potentially reversing into a capital "H" at resistance.
3. Candlestick Patterns ๐ฏ๏ธ
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 ๐.
4. Todayโs Prediction ๐ฎ
Expect a small candle, A Hammer or an engulfing pattern, but the market will ultimately guide the outcome.
๐ Final Thoughts:
The market remains in transition ๐ฆ, with no clear direction yet. Trading demands patience, discipline, and professionalism. โจ Stay focused, and let the market lead you toward success.
๐ก Stay tuned for Part Two at noon ๐, covering:
๐ Harmonic Pattern Analysis
๐ Elliott Wave Theory
๐ข Follow for updates, share insights, and join us in this professional trading journey! ๐
# Bat
# Zec
# Neo
# Doge
# Dash
# litecoin
# Iota
# Uniswap
