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skywarp90909

BAT huge swing trade or long term position opportunity

Long
Basic Attention Token / Bitcoin (BINANCE:BATBTC)  
skywarp90909 Updated   
BINANCE:BATBTC   Basic Attention Token / Bitcoin
Chart Patterns Technical Indicators Trend Analysis
3
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chartpattern indicator trendanalysis
BAT experienced a huge breakout earlier this year, only to retest and fail at the top level of 18 month resistance turned support. BAT has been battering peak breakout buyers since its ICO, while also enabling tremendous opportunity for accumulation. Fundamental development has great outpaced the market and price action. Looking towards a longer timeframe, I believe the volatility of BTC vs USD price action will enable further swing trade opportunities for BAT, eventually leading to a massive breakout vs BTC in 2020. Fundamentally, the subsequent market cap of BAT will be easily defended by speculators and supporters alike as Brave / BAT makes a measurable impact on the broken multi billion dollar online ad industry. Coinbase volume will be significant particularly at the start of the next bull market, especially with the recent developments with Binance for US customers. BAT has a first mover advantage among many other alts, most of which have little chance of being listed on a regulated exchange as it is.

Comment:
Note significant double bottom of the RSI. BAT has rewarded buyers every time upon reaching such levels.
Comment:
Invalidated. Unknown bottom. Wick to 2500 with support at 3k sats could mean a bottom if BTC mingles in the 10k area for a bit or has a correction. With still some upside for BTC potentially near term 11,300+ would wait for confirmation.
Comment:
Carnage continues. Would not bet on defense at low 2k sats especially if ETH / BTC falls through.
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