🔥 BAT Potential Third Wave Incoming: Fibonacci Analysis
BAT has seen a massive >130% move over the last few days. However, BAT has been bleeding value since hitting the top around $1.46.
The Fibonacci retracement tool is a great tool to scout potential areas of reversal. For BAT, I'm looking at the pink Reversal Zone for a potential bounce.
The bounce can take us either towards the local top, or can stop somewhere in the middle to form a triangle pattern of some sort. I'm looking at the area between $1.25 and $1.40 for an exit.
Happy trading!
The Fibonacci retracement tool is a great tool to scout potential areas of reversal. For BAT, I'm looking at the pink Reversal Zone for a potential bounce.
The bounce can take us either towards the local top, or can stop somewhere in the middle to form a triangle pattern of some sort. I'm looking at the area between $1.25 and $1.40 for an exit.
Happy trading!
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