BAT: Clearly BullishVeterans arent panicking. We all know what to do. We weigh our probabilities and go for the next target. In order to win in this game, you have to learn how to be a survivor. The only way to survive is if you can think for yourself. If you have a strategy that works for you, continue using it. But if you find yourself reacting to the market and getting emotional every time there is a little tick up and down. You are not ready for this game. What you need to do is work on your foundation and principle. You need a reason why you are in this market, whether it is to make money, advance technology, help humanity, etc. You have to be honest with yourself. That's the only way you can survive.
Back to the chart. Basic Attention Token. You already know I have been bullish on this project for awhile now. It is one of the slow grower due to its circulating supply, but it is a steady grower, which is healthy. As we look at this, we can clearly see a perfect cup and handle. You might get an opportunity to buy a double bottom, or you can buy at current price. I expect market to recover much quicker than people anticipate. There are two scenarios that can happen. Bitcoin climbs and alt coins stay where they're at or decline. Bitcoin climbs and alts climb with it, until Bitcoin makes new ATH. I am moreso with the latter as looking at most alts, they're at a great price to buy. Therefore many people will buy them back to their original price. But we will see. What are your thoughts?
Trade with care.
Batusd
BAT (Basic Attention Token) - Head & Shoulders Pattern.Basic attention token has formed a head and shoulders pattern, this is usually a bearish trend and quite commonly something you do not want to see. What we can expect is that the price will fall to the support that is indicated by the purple line on the graph and from here we may face a bit of consolidation or we will continue to drop to previous lows, however, on the positive note these patterns can sometimes reverse and do not always play out. For instance, we could hit the support and quickly rebound to an uptrend again.
MACD - Does not look to dangerous at the moment.
RSI - Is in the overall sections which is also very bullish.
Orange - Resistance.
Pink - Support.
As always trade the lines accordingly.
BASIC ATTENTION TOKEN - Bearish Flag Pattern. Basic Attention Token has begun forming a bearish flag pattern which indicates an upcoming drop. However, this is not to say that a reversal cannot occur, in that case, we would break through the resistance to continue an uptrend. You should use the support and resistance lines in order to hedge your bets on where the price is heading next and whether the bearish flag is going to be successful.
Orange - Resistance.
Pink - Support.
As always trade the lines accordingly.
BAT: Buy NowI have been following the USD comparative of BAT and now looking at the BTC comparative, I see a great buying opportunity for this crypto. It relatively cheap and it has been holding support very well. Especially when Bitcoin has been killing it, it can still hold this support level. This signify a great buying opportunity in my eyes. What are your thoughts?
Basic Attention Token Signal - Reversal patternsAs we can see the Basic attention token is a rather volatile coin - fluctuating often over 20% through it's trading week.
The BAT has been bleeding out for a while now & took a beating between the BCH/BTC civil war but despite this the 1970 resistance mark that held back the BAT recovery has now become it's support line.
This last 20% rally we've seen in BAT today bought to my attention that this is definitely not the first time this has happened - and these 20% spikes actually appear to be following the downward curved trend line that I've drawn - which looks like a strong ascending scallop is forming.
Basic Attention Token - Are we bottoming out?We seem to have hit a floor for BAT, unless the currency continues to drop below the support line. It has recently seen a large sell-off due to Bitcoin's parabolic movement, however, I suspect money will flood back into alt-currencies once Bitcoin has finished hard-forking.
Orange - Resistance.
Purple - Support.
Trade the lines accordingly.
BAT 4 HOUR TIMEFRAME BUY WHILE ITS CHEAPBAT 4 HOUR TIMEFRAME. Los Angeles 11:54pm.
Before I go into BAT I want to explain why I think this is an important investment for the long term strategy. Before I got into the crypto space I noticed there were a lot of speculative hype behind coins that drove the price beyond logical understanding. All it took for a coin to gain demand was two things. A pretty name with a logo and a well written White Paper. Not too long ago, Coins didn't have any fundamental analysis because there were no working products/prototype. Eventually over time that had to change and we can see that now. When I first started, I used to say there needs to be a good white paper, a good team, and a working product for people to get my money. In that order, if a coin cannot provide a working prototype/product I won't even bother investing in the company. That being said I'll never invest in an ICO unless I'm looking for a quick pump and dump. I can always make money elsewhere.
With that being said, BAT has been working on a unique project that is live to the public and is competing against Chrome and Mozilla. Brave browser is faster than Chrome and has an integrated blocker that protects your browsing privacy and ads. They have a open source portfolio called github.com/brave that everyone should see for themselves. They are extremely active and they are updating their Github on the weekends. The founder of Brave is also an ex-CEO from Mozilla brave.com The browsing history is encrypted and kept safe from advertisers.
Take a look at their brave.com because it will answer many questions.
Here is their infographic on how the browser communicates with your browsing data and ad shares.
brave.com
Short Checklist:
Buy while its cheap.
Buy for long term strategy.
Buy because they have a working product.
Buy after you check out their web browser.
Green line shows bullish divergence.
BAT 4 HOUR MISSED TREND REVERSALSBAT 4 HOUR Chart Los Angeles 7:06PM
BAT has shown some bullish divergence but it has missed two trend reversals. The price action broke the 100 and found support at 1.618. Lets hope that it won't fall further after 1.618 and that there will be buys coming in from the oversold RSI. I would like to see RSI at the 50 or 60 to feel confident about an uptrend.
BAT Trading Plan - 65% Profit Target Potential this WeekHere is a detailed trading plan for BAT. If everything goes as expected, an easy 63% profit could be made this week.
OCTOBER 6:
A "Mercury" preview is scheduled to release sometime today. This could trigger a quick 10-15% profit potential.
BUY: 5400
SELL AT TARGET PROFIT 1: 5900-6400 SATS (~12% Profit)
The price is expected to dump down to the 1st support line as people sell the news where you can set 50% of your buy orders in the small blue rectangle just above the 1st support, around 5400 sats. If the price dumps below the 1st support line, it should fall down to our main accumulation zone where you can set your 50% buy orders in this zone, around 5000 sats. At that point, your average accumulated BAT price will be around 5250 sats.
October 12-13:
This is the date where devs have promised to release "Mercury" along with all the partnership news. We will start seeing some price action here in anticipation to the release. There is a heavy resistance at 7000 sats so it would be advisable to take profit at the green zone right under "Target Profit 2", between 6800-6950 sats (30% Profit for a total of 42% profit so far). On release, I expect that we will easily break that resistance, but don't buy until we get a confirmation that this resistance has been broken. These buys should be placed at the "Rebuy Zone" at 7150 sats. Our target profit will be at 9000 sats and grabbing profits at 8700-8900 sats is advisable (Another 23% profit for a total of 65% profit).
Good luck! Trade at your own due diligence and remember to ONLY invest what you can afford to lose. This technical analysis is assuming that "Mercury" will not be delayed AGAIN for a 3rd time (It has already been delayed twice).