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.
As always trade the lines accordingly.
- 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.
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