Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
BAT actually doesn't look all that bad to me right now. There was obviously the big push from the coinbase listing but from a trend standpoint, we look like we're wanting to break out of this consolidation effort to the upside.
Being conservative with where I'd like to exit this as the market can turn upside down at a moments notice.
We're also well below the 61.8 retrace, so that makes this even more risky, however there was some bullish divergence on the 1 day timeframe which looks decent. If we can stay above 3300 then I think we have the potential to push up to 4000 or close to it. It's potential to go beyond that if the impulse holds is good to get back up to about 4350 but I wouldn't hold onto that too hard.
Bear case: If we fail 3300, we are definitely going back to 2900, so cut your losses and get out if it falls. Don't turn into a bag holder.
BAT actually doesn't look all that bad to me right now. There was obviously the big push from the coinbase listing but from a trend standpoint, we look like we're wanting to break out of this consolidation effort to the upside.
Being conservative with where I'd like to exit this as the market can turn upside down at a moments notice.
We're also well below the 61.8 retrace, so that makes this even more risky, however there was some bullish divergence on the 1 day timeframe which looks decent. If we can stay above 3300 then I think we have the potential to push up to 4000 or close to it. It's potential to go beyond that if the impulse holds is good to get back up to about 4350 but I wouldn't hold onto that too hard.
Bear case: If we fail 3300, we are definitely going back to 2900, so cut your losses and get out if it falls. Don't turn into a bag holder.
Trade active:
BAT had a decent spike sort of as I expected. A decent amount of rejection to go along with it, too. I'm still betting on more upside but keep the stop loss in place.
