BTAI has likely completed an impulsive 5-wave decline followed by an ABC corrective structure. The final leg (v) of the downtrend appears to have ended near $1.35, where price action shows a reversal signal.
Currently, price is attempting to recover and may retest the descending trendline and previous structure zone near $1.60 — a level that served as strong support previously and now acts as resistance.
If the price breaks this zone with volume confirmation, it could trigger a short-term bullish breakout. Until then, this is considered a corrective rally within the broader downtrend.
Key Levels:
Support: $1.35
Resistance: $1.60
Target: $1.60 (potential +16%)
Conclusion:
A short-term bounce is unfolding. Watch $1.60 for reaction — rejection or breakout will determine the next leg.
Currently, price is attempting to recover and may retest the descending trendline and previous structure zone near $1.60 — a level that served as strong support previously and now acts as resistance.
If the price breaks this zone with volume confirmation, it could trigger a short-term bullish breakout. Until then, this is considered a corrective rally within the broader downtrend.
Key Levels:
Support: $1.35
Resistance: $1.60
Target: $1.60 (potential +16%)
Conclusion:
A short-term bounce is unfolding. Watch $1.60 for reaction — rejection or breakout will determine the next leg.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.