CryptoKraze here
In this post I am going to cover technical analysis of Basic Attention Token for Mid term trade. I am using tradingview charts and price linked to Binance exchange. Let's have a look on technical aspects of Basic Attention Token.
Possibility on 1 Hour Chart
If you look at 1 hour chart, you will see BAT has formed ascending triangle on trend line support and ready to break out of triangle. This is very common pattern in crypto currencies, whenever a coin makes this symmetrical triangle, a breakout is imminent that is right in process. If we look at RSI, it has touched 70 level and has dipped to 50 level. It has to rise up to touch 70 level again.
- I have a buy entry at 0.00003750 with my profit target will be around 0.00005000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
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Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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