Unlike some other coins, BAT has actually NEVER been against Bitcoin . It was dumped immediately when it came on the market, and has been in a symmetrical triangle ever since, which often would indicate further downside. However, I think sentiment is generally positive for BAT, so I think this is more likely to break out to the upside once the market confirms its reversal. We are inching closer and closer to the long term triangle resistance. If it's broken, I wouldn't be surprised to see a MASSIVE spike in price and . Of course, the triangle can break down if there is a sudden loss of confidence in the market, but this is a LONG setup.
Potential BUY setup:
If triangle is broken.
Next triangle resistance (green X), in the 5500 area.
6000+ if that breaks.
This is not financial advice. This is a potential setup I'm seeing, and I'm just curious to see if it plays out. I don't hold BAT at this time.
Small trading position, just for funzies.