Long Term BULL, Short Term BEAR
Updated
Long term trend here shows a classic wedge pattern (as we have seen with BTC). Currently, BAT is testing long term resistance and it is unlikely to break out of it without some additional stimulus. For example, if BTC breaks out of its long term wedge this will likely spark a huge rally of alt coins. Additionally, Brave may announce a new feature of their browser (owners of BAT token) such as a decentralised VPN (dVPN) add-on. Orchid Network have created a dVPN so a merger with them may also insight movements in the BAT price.
I have listed my three entry points in the chart. It is not as exciting as going all in when BAT is at the lowest point but it mitigates risk of missing upside movements and large downside losses.
NOTE: This chart should be used alongside BATBTC as it provides a useful indicator as to when BAT may start to outpace BTC (in terms of stock price).
I have listed my three entry points in the chart. It is not as exciting as going all in when BAT is at the lowest point but it mitigates risk of missing upside movements and large downside losses.
NOTE: This chart should be used alongside BATBTC as it provides a useful indicator as to when BAT may start to outpace BTC (in terms of stock price).
Note
BAT breaking out of the long term trend this week. Looks like a retest to the 0.120s is not likely anymore... what an exciting time to be in this space.
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