BATUSD trade ideas
BATUSD - LOOKS BULLISH!!! 🚀Previously completed the Falling wedge and jumped from there. Now we clearly can see an ascending forming-up.
Momentum is at its lowest though.. IF we won't gain any momentum in the upcoming days, the triangle can be broken with a bearish run.
Good news:
The operator of the Grayscale Bitcoin Trust (GBTC), Ethereum Trust (OTCQX: ETHE), and Litecoin Trust (OTCQX: LTCN), among others, announces the launch of trusts into five more cryptocurrencies. The new funds will hold tokens for Chainlink (LINK-USD), Filecoin (FIL-USD), Livepeer, Basic Attention (BAT-USD), and Decentraland (MANA-USD). All are surging higher in morning action.
BAT update - diligently building a falling wedgeIn the very short term, I think it will keep retracing.
But then I'm very bullish on the breakout of the falling wedge to the upside.
The support and resistances on the chart or BTC will determine when it breaks out.
I wouldn't short this right now. Too much upside potential
BAT: short term correction, long term growth. BAT seeing some air.
Could see a retracement before the next jump up.
General current events regarding the browser that this token is used on seem positive. (Positive social sentiment)
Even without that it seems to be on its way in a uptrend in its larger cyclical lifecycle.
BAT needs a breather...looking at BAT we can see major bearish divergence. after a strong rally we appear to be creating a rising wedge candlestick pattern which indicates a reversal. This however is still bullish long term. it would only be a small correction in comparison to the monthly run.
however if we do break to the upside we will moon & continue the run (on other coins e.g. eth and btc i have seen these patterns break bullish repeatedly so this is not invalid)