BAT/USDC: Consolidation before big moveWith Bitcoin, Ethereum, and Litecoin all rallying the last few hours, BAT has been maintaining a strong consolidation trend. It looks like the first week of June will be the moment of truth for BAT/USDC. Since bulls have taken over the market we've seen a return of a raging bull market. A realistic outcome would be for BAT/USDC to have a violent move up somewhere around June 5, similar to what we saw a few weeks ago. A conservative target would be $0.60 by middle of July, possibly touching $0.75 for a moment before backtracking. My previous prediction of consolidation in this range is turning out to be accurate, and my target of $1.00 by end of summer is still on track. If the market does go bananas like 2017, we could even see more upside but I want to remain realistic.
BAT/BTC ratio remains suppressed more than I would have thought. However, that's not entirely surprising now that bitcoin has taken the lead role in this bull market.
Keep an eye on breakouts this weekend. It feels like social media is buzzing right now and all of the trading groups are expecting big moves this weekend, most likely to the upside. If BAT breaks out of its triangle before June 5 all bets are off and we could see $1.00 even earlier.
