In summary with this multi pattern present actually helps to validate this as possible strong support that could see a reversal from this level, however as the BAT does not align fully at the PRZ i'm still dubious and hence why i'm neutral in my bias, when trading the BAT a good point to enter a trade is at the 0.886 retrace-ment of the XA leg but as it does not align ideally then i would want the wait to see the terminal price bar (the lowest point it would go be for reversal) in this situation i think its important to be patient and let the market come to us be for jumping the gun i would want to see a significant move upwards after the Terminal price bar before i consider opening a long position in Bitcoin .
PS All this information iv learned regarding this analysis is based off Scott Carneys book trading 1, if your interested id highly recommend the trading approach the accuracy of these patterns can be very high and if you back test these patterns you will see the significance of this approach, without people like mark sharing this information to every day people we would not have accsess to valuable information that would usually be kept by big banks and institutions, people like mark have all-ready done the hard work of discovery , all we need to do is learn a great strategy and apply it. I like this approach as i do not want to be an everyday trader in the city as thay seem to be too short sighted in there methodologies and they become followers of the market using such short time frames don't get me wrong i frequently trade on 5 min charts as well but i'm talking less than that. I like the idea of predicting the future price action with accuracy and the natural order of things using FIB numbers, i think the key is to see the big picture using multi-time frame analysis i'm not saying i'm right i may be wrong about city traders but from what i can see they seem to be always trying to be in the market and if your not in you aint making money, I believe trading can be easy or as hard as you make it and if you trade from the heart with passion i think freedom and time will come to spend with friends and family which is really probably your most valuable asset so id choose being a retail trader over a city trader any day as Scott said full time trading is not a full time job.
This gives more information as to the direction of bit coin over the next week as this alternate bat pattern has emerged then this could indicate a continuation of the downtrend, as it has emerged then i would start to unload any open positions if the price closes below the trend line.