Trade ideas
CELRUSDT BAT PatternBat
The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool that allows users to visually identify 5-point reversal structures on a chart.
CELRUSDT - UPDATE!CELRUSDT:
Price is trying to bounce from a critical support zone area and gaining some momentum.
On a higher timeframe, it is showing a pullback scenario and trying to negate its downward move. So we are expecting in the upcoming session and will target a resistance zone. Breakout level will be at 0.054 $
#CELRUSDT 4H Chart
After ranging in a downtrend respecting the resistance line perfectly, price is currently testing a major 8h demand zone. MACD is not clear, RSI is sold and EMAs are turning bearish. I am expecting to see a bullish reversal from that area as we also have a lot of liquidity resting above the resistance line which price needs to take out.






















