$BAT DOUBLE TOP — Bears Trying To Take Control?
BAT just got rejected again near 0.22340 on the 4H — same level we saw last time. That's two tests of 0.223 - 0.224 and two strong rejections. Potential double top forming here.
Currently trading around 0.20204 / 0.20351, up +9.58% on the day but losing momentum at the top. 24H High 0.22319, 24H Low 0.18423.
What I'm watching:
As long as 0.223 - 0.224 holds as resistance, bearish pressure stays. On the downside, $0.20 is the first psychological support. If that breaks, I'm expecting a deeper correction toward 0.190 - 0.181, with 0.173 as the next major support.
My plan: Not chasing longs up here at resistance. Waiting to see if 0.20 holds. If we lose 0.20 with volume, I'll look for short setups toward 0.190. A strong 4H close above 0.224 would completely invalidate this bearish idea and I'd flip to neutral/bullish.
Are you seeing another correction coming on $BAT or do you think bulls break 0.224 this time?
#EarningsSeason #SwitzerlandApprovesFirstBitcoinETF #SkyAISellsAllSOLAndLaunchesCashTenderOffer #KOSPIFallsMoreThan2% #ElicePlunges33%InKoreanIPODebut
BAT just got rejected again near 0.22340 on the 4H — same level we saw last time. That's two tests of 0.223 - 0.224 and two strong rejections. Potential double top forming here.
Currently trading around 0.20204 / 0.20351, up +9.58% on the day but losing momentum at the top. 24H High 0.22319, 24H Low 0.18423.
What I'm watching:
As long as 0.223 - 0.224 holds as resistance, bearish pressure stays. On the downside, $0.20 is the first psychological support. If that breaks, I'm expecting a deeper correction toward 0.190 - 0.181, with 0.173 as the next major support.
My plan: Not chasing longs up here at resistance. Waiting to see if 0.20 holds. If we lose 0.20 with volume, I'll look for short setups toward 0.190. A strong 4H close above 0.224 would completely invalidate this bearish idea and I'd flip to neutral/bullish.
Are you seeing another correction coming on $BAT or do you think bulls break 0.224 this time?
#EarningsSeason #SwitzerlandApprovesFirstBitcoinETF #SkyAISellsAllSOLAndLaunchesCashTenderOffer #KOSPIFallsMoreThan2% #ElicePlunges33%InKoreanIPODebut