BAT/BTC Long Position
I would consider this an early analysis of
BATBTC
. I say "early" because the current chart shows bearish indicators. As seen in the chart above, the RSI has fallen below 50 and the EMA is looking bearish.
On the flip side, fundamentally and structurally
BATBTC
actually looks like it has potential too me. You can see that on the daily chart we have formed this wedge. Bouncing between the high and the low points. This has been a trend that has been confirmed a few times. Additionally, the Coinbase announcement with BAT could potentially increase volume (I know this is not a done deal yet but it is a good sign).
The trade here is to purchase near the bottom (with a stop loss near the red horizontal line drawn) and then let it ride near the top of the wedge. Make sure to do some dollar cost averaging when looking at this trade and have a strict plan in place before you get into it!
If you have any questions let me know!
BATBTC
. I say "early" because the current chart shows bearish indicators. As seen in the chart above, the RSI has fallen below 50 and the EMA is looking bearish. On the flip side, fundamentally and structurally
BATBTC
actually looks like it has potential too me. You can see that on the daily chart we have formed this wedge. Bouncing between the high and the low points. This has been a trend that has been confirmed a few times. Additionally, the Coinbase announcement with BAT could potentially increase volume (I know this is not a done deal yet but it is a good sign). The trade here is to purchase near the bottom (with a stop loss near the red horizontal line drawn) and then let it ride near the top of the wedge. Make sure to do some dollar cost averaging when looking at this trade and have a strict plan in place before you get into it!
If you have any questions let me know!
Trade fechado manualmente:
I ended up getting stopped out by my trailing profit on this trade. I made about 5%. Not as much as I expected but I will never complain about a gain!
The ETF delays pulled this one down.
The ETF delays pulled this one down.