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BAT - Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. WEEKLY: Right Chart BAT is overall bullish trading inside the brown channel. and now BAT is sitting around the lower brown trendline acting as non-horizontal support, so we will be looking for buy setups on lower timeframes. DAILY: Left Chart BAT broke above our blue wedge pattern and it is currently stuck inside a consolidation in the shape of an inverse head and shoulders pattern. Trigger => For the bulls to take over, we need the right shoulder to form, then a momentum candle close above the gray neckline.(projection in purple) Meanwhile, until the buy is activated, BAT can still trade lower until the horizontal green support. In this case, we will be looking for new buy setups on lower timeframes. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:BATUSDLong
by TheSignalyst
14
BAT AnalysisYesterday, BAT found strong support near $0.58. It bounced very quick in the same day and closed at its open price, formed a dragonfly doji candlestick. That’s an optimistic sign at least in the short term, because it seems that large traders entered the market. Low volume (locally higher buy volume). Maybe the last weak hands are eventually out of the market. The first bullish sign of strength came today, with a full green candle. Conservative traders may wait the bearish trendline breakout, before placing their bids. Aggressive traders may buy at the current price or wait a correction (if occur) at the trendline resistance. The next crucial resistance is near $1.00 – psychological resistance. If nothing happened in the world like a new war, we will see a new high in the next weeks or months. Trading is a probability game. There is no perfection in that. Market is unpredictable. Stay to your plan. Do not panic sell.
KRAKEN:BATUSDLong
by Rhaonnor
2
BAT to reach $2.27-$2.41 on the 12 Hour?Hello everyone! Today what I have shown is BAT on the 12 hour time frame, pretty close to a symmetrical triangle. With the triangle in orange, we have had four touch points on the support, and now 3 on the resistance. I already have a buy order set for $1.18, and will have a stop loss set at $1.113, as this is where we had previous support. This places the SL below the triangle, which would help in the case of a break down. By copying the support of the triangle and pasting it at the high of the triangle formation, price could reach $2.27 if it were to break above the triangle. Otherwise, you can take the height of the triangle, and with an underestimated breakout of $1.25, price could go up to $2.41. This would provide me with over a 16:1 risk to reward ratio, with a maximum loss of 5.68%. By having a conservative sell at the $2.27 mark, that gives for a nice 92.37% gain. Otherwise, selling at the more risky area of $2.41 would yield a 104.24% gain. I am aiming to buy in at $1.18, because, even though that would be before a decisive breakout, it allows me to have a very good and comfortable stop loss and I would be in at a very good price if it were to break above. Obviously, the most conservative thing to do would be to wait for a candle close and confirmation outside of the triangle before placing any positions. I hope you enjoyed my little analysis and that it works! As always, have an awesome day and be sure to always do your own due diligence.
COINBASE:BATUSDLong
by Vanlife1
7
BAT Broke Above Symmetrical Triangle AND Temporary Trend ChannelHello Everyone! Tonight I want to share a coin I was eyeing up for a little bit. A couple of days ago, I saw that BAT was in a symmetrical triangle depicted in orange. Last night it was able to break above the triangle. With the height of the triangle and where BAT broke out, price should eventually get up to $1.65. Throughout this trade, we are looking for confirmation and signals of confluence that will keep providing us insight that BAT will have what it takes to finish this move. After breaking out of the triangle at $1.15, price was able to confirm support on R4 and eventually R5, giving us a secure entry point, with a secure place to put our stop loss. Some things I've been looking at are also the Stochastic RSI. Throughout the span of the triangle, we were having bearish divergence as shown with the dotted white line. Today, we were able to break above it, showing good signs of strength. Compounded with this, BAT was also beginning to form a trend channel in blue. Just recently, price action was able to break above this channel, and is now looking to confirm it for support. I'm thinking that it will likely hold the top of the blue channel as support, and the stochastic will stay horizontal before rising upward. Price action may then find some temporary resistance and then support at $1.40, but after that, there isn't much else stopping it from completing the move. I've got my TP in for $1.60, even though the height of the triangle should bring it to $1.65. Throughout the trade, we can bring up our stop loss to ensure profits, but it is up to personal digression. For now, I'm hoping that this trade can complete in a couple more days, while other coins that have broken above wedges, triangles, and pennants like SUPER, DOT, and MKR can still be trade-able. I hope you guys enjoyed this little analysis. If you did, be sure to give it a like and subscribe. The other coins I mentioned should be a possible hint of what I've got coming next :) (as long as they dont rise too much before I can get my hands on them). Have a great night, and as always, be sure to do your own due diligence.
COINBASE:BATUSDLong
by Vanlife1