BAT / BTC Technical Analysis May 13, 2018

I believe we are currently in the correction phase of the recent upward moving impulsive wave that started on March 18. It looks like we have just completed the A wave (cyan) and are currently in process of the B wave.

The A wave came just shy of the .618 fib retracement mark and we could possibly be through with the retracement. This is a possibility I always leave open if I am incorrect on the Eliott wave analysis. I am always prepared to buy more if the price dips lower.

Medium - Long Term View

With the completion of the current correction it looks like we will start wave 3 (Green) within a larger 3rd wave (White). Because Eliott's rules state that wave 3 is often the strongest, we should see a strong impulsive wave up.

Around the end of the year I'm projecting BAT at $1.14 at current BTC price ($8,649.14). The current price of BAT is $0.37. That's a 300% ROI or 3 times faster than the growth of Bitcoin.

Of course, the further I predict the price in the future the further it could be off. But with my analysis of the trend and projection of BAT in 2018 proves to be a good investment.

Note: If I'm long term investing in a coin I will hold a portion (10 - 25%), preferably in secure storage without trading them.

Disclaimer: This is my personal technical analysis. You should not trade cryptocurrencies without taking full responsibility for your own decisions. I will NOT be responsible for any loses you may have incurred based on my TA. Responsible money allocation is key to not gambling all your investments on one or a few trades. I am now a professional trader but am still learning the hard knocks and realities of swing trading full time. I take responsibility from my own decisions, so should you.