BAT bottomed out?
Updated
BAT is a very interesting project with a great team (among others the founder of
Mozilla and Firefox). I'm already using the Brave browser which really is an outstanding browser. I was looking for a good entry in the token and think this is a very good point. As we can see, BAT hasn't really seen a major pump since it got on Bittrex and has been moving down almost constantly.
We can now see that the Stoch RSI got oversold again, but quickly bounced back up. Also, there is a bullish divergence between price (lower lows) and the Stoch RSI (higher lows). A similar and even more pronounce bullish divergence can been seen on the MACD. In addition, the trendline on the RSI got crossed, which often indicates a good entry point.
BAT is now at the bottom of the downward channel, but looking at the indicators a move towards the top trendline should at least be possible in the long run.
Mozilla and Firefox). I'm already using the Brave browser which really is an outstanding browser. I was looking for a good entry in the token and think this is a very good point. As we can see, BAT hasn't really seen a major pump since it got on Bittrex and has been moving down almost constantly.
We can now see that the Stoch RSI got oversold again, but quickly bounced back up. Also, there is a bullish divergence between price (lower lows) and the Stoch RSI (higher lows). A similar and even more pronounce bullish divergence can been seen on the MACD. In addition, the trendline on the RSI got crossed, which often indicates a good entry point.
BAT is now at the bottom of the downward channel, but looking at the indicators a move towards the top trendline should at least be possible in the long run.
Note
BAT broke down a little more than expected, but keeps bouncing back. Currently forming this pattern, which looks quite bullish. If breaking out we may see one of these big spikes again leading to the blue box. The volume is also building up nicely the past few days, which is a good reflection of the increased times BAT gets mentioned on social media.Trade closed: target reached
Target reached! Taking some profits here, but I don't think BAT is done moving up, so will keep most of my portfolio. If breaking out from the long term channel, I will update the idea.
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