Even if you are not trading the big swings, I think it is very helpful to know where the price will head in the next couple of month.
As you can see we just reached the top again of the .
BAT is trading in this range since it exists, therefore we can say this channel is very strong.
This again means the resistance in the red box is EXTREMELY strong and I would not invest into this coin right now.
If you hold BAT I would advise you to not be greedy and take your profits now.
How To Trade
If you are holding BAT look for an opportunity to take your profit
If you want to invest into BAT because of the news, that coinbase maybe wants to add this coin to their portfolio, think twice.
Look at the picture above. I think it is pretty clear that from a risk to reward standpoint the risk of buying right now is over 9000.
My personal plan when I see a pattern like this is obviously to buy at the bottom and sell at the top of the channel.
DON'T GET CAUGHT IN THE HYPE!
Can it go higher?
Sure, but is it likely?
Think about your risk to reward at the moment.
If you buy now your risk is enormously high and your reward very low.
But what if it skyrockets and I miss out?
What you feel is FOMO.
A very dangerous feeling.
If BAT skyrockets wait for the big resistance (because it will come) and then buy back in.
I will keep this idea updated and we will see where this journey takes us.
If you find this article helpful show it some love.
The next updates will come over the next couple of hours/days depending on how much I get motivated by your interactions.
Now it is time to look for the next opportunity.
Taking into account how quick we fell I think we could get deeper than usual.
Remember to average in!
Everything inside the green box is a good buy: