(as example; see the rise in BTCUSD from 21st of April)
As explained in previous charts, when trading any pair that is dominantly traded in BTC you should always watch the KING: BTCUSD! Any big or strong move made on the BTCUSD pair will have impact on all altcoins as they are mostly traded in btc pairs.
I wrote a short article about this on our website:
Bat took another time to catch its breath after making a higher high last Sunday, giving us some nice profits on the last trade.
In this current dip I am again looking to buy around the green Fibonacci levels by scaling into a new position. This time I will use a smaller position size due to the higher possibility of increased caused by sudden moves on the BTCUSD pair.
Targets as usual and as always: secure the position in the bounce from these levels.
You can always decide to take profit in BAT instead of BTC and keep the coins for longer term should you want to build more exposure to this coin in your portfolio.
Happy trading everyone and may the honeybadger keep us all safe :)