BAT: More Downside Before a Bounce
Updated
Not too much to say here....
BAT failed to hold the long-term trend line and now it's currently in free fall due to BTC pumping. Heading towards last known strong support area of 2300 sats. I expect a reversal here, or, depending on what BTC does, might simply get a bounce before continuing all the way down to 1000. Alts are not strong at the moment...
Shouldn't need to be said, but obviously this is not financial advice. It's for my own personal idea catalogue. I'll either pat myself on the back later or laugh at myself. Good times either way.
BAT failed to hold the long-term trend line and now it's currently in free fall due to BTC pumping. Heading towards last known strong support area of 2300 sats. I expect a reversal here, or, depending on what BTC does, might simply get a bounce before continuing all the way down to 1000. Alts are not strong at the moment...
Shouldn't need to be said, but obviously this is not financial advice. It's for my own personal idea catalogue. I'll either pat myself on the back later or laugh at myself. Good times either way.
Note
Currently testing the support area, but personally I'm not expecting it to hold. With BTC continuing it's rally, alts are more likely to continue bleeding. Watching BTC closely. Trade the trend.Note
Looks like BTC has since had a correction and given altcoins a relief rally. BATBTC bounced at this support area as expected. I think the rally might be getting exhausted though and people might be taking profits back into BTC for when that gets moving again. Potentially solid 40% profit to whoever took the trade.Note
I think things are going to get ugly for BAT and many alts in the short term. It's bouncing around support at the moment, but if BTC continues the pumpening then alts are going to drown in a sea of red. BAT could freefall down to 1000 sats still. Very risky atm.
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