BATUSD huge downside potential (50 % dump)
BATUSD looks like it's ready to capitulate together with other altcoins.
Support already failed (check on daily or lower timeframes). We expect a follow through in the next days and weeks.
There are multiple support levels (red lines) where you can take profit if you're shorting.
If we see 50 % capitulation, it may a great buying opportunity, however BAT is a coin from 2017 so it's kinda old coin so the risk may be even higher as nobody knows how much money the team has to continue this project.
Anyway, the chart looks ugly and most likely it will become worse before we see a rise.
Support already failed (check on daily or lower timeframes). We expect a follow through in the next days and weeks.
There are multiple support levels (red lines) where you can take profit if you're shorting.
If we see 50 % capitulation, it may a great buying opportunity, however BAT is a coin from 2017 so it's kinda old coin so the risk may be even higher as nobody knows how much money the team has to continue this project.
Anyway, the chart looks ugly and most likely it will become worse before we see a rise.
Comment:
Already dumping!
Trade closed manually:
The price bounced from the support / take profit area. Looks more bullish now.
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