Greetings BAT coin is one of the few with a real demanded product - Brave browser which I use myself, traded on many top exchanges. As is the portfolio of institutional investors, such as grayscale and by the way has appeared there since March, already managed to affect the price, the price rose + / - 100%, but in my humble opinion this is not the limit and I will try to show why I think so.
On the weekly chart, we can see that the price has approached the trend line, which can be drawn through the previous high, and this zone is also the lower boundary of the liquidity, as a horizontal channel, in which the instrument was traded for more than a year from June 19 till August 20 and where the largest volumes were, and the price is likely to return to that place, and we can see it now.
On the daily chart, the price is in an uptrend, which has formed an uptrend or divergent triangle. And it is near the lower boundary of the horizontal channel, the upper boundary of which will be the first target of 3122. Catching above this price, opens the way to the next resistance levels, the levels are conditional + / - as level is not a line but a zone where the price was traded in the past and from which there was a reaction to the market, sometimes levels are broken through as if they had never been, For those who trade recently, my advice would be to set more profitable targets before levels, and re-take a position on a pullback if you want to increase your position, or re-take a position after a fix above a level when the breakout occurred, In this way you will have less profit, but you will get faster experience because of the larger number of trades, in the case of setting distant targets, you first risk that the market will correct, and your profit that you could take will stay only on paper, Secondly, the price may simply not reach distant targets in case the whole market turns (let me tell you a secret, the current bull altseason is not forever, and sooner or later it will end), and thirdly, you will have fewer deals and you will get longer experience in trading, and all theory without experience is of no particular use.
On the 4 H looking for an entry point, we see that the price is in a consolidation or sidewall forming a rectangle, in this situation, wait for the exit of the price from the rectangle by setting an alert on the trading view, or any free applications, and increasing vertical volume at breakdown, also there may be a false breakdown, if the price comes out of this consolidation, the buyers demand point and the possible reversal of prices will be horizontal support 1630 and the trend, this point is also suitable for buying on confirmation of support.
Always use stop loss, and do not use a leverage greater than x3.
A trader should always have tomorrow.
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On the weekly chart, we can see that the price has approached the trend line, which can be drawn through the previous high, and this zone is also the lower boundary of the liquidity, as a horizontal channel, in which the instrument was traded for more than a year from June 19 till August 20 and where the largest volumes were, and the price is likely to return to that place, and we can see it now.
On the daily chart, the price is in an uptrend, which has formed an uptrend or divergent triangle. And it is near the lower boundary of the horizontal channel, the upper boundary of which will be the first target of 3122. Catching above this price, opens the way to the next resistance levels, the levels are conditional + / - as level is not a line but a zone where the price was traded in the past and from which there was a reaction to the market, sometimes levels are broken through as if they had never been, For those who trade recently, my advice would be to set more profitable targets before levels, and re-take a position on a pullback if you want to increase your position, or re-take a position after a fix above a level when the breakout occurred, In this way you will have less profit, but you will get faster experience because of the larger number of trades, in the case of setting distant targets, you first risk that the market will correct, and your profit that you could take will stay only on paper, Secondly, the price may simply not reach distant targets in case the whole market turns (let me tell you a secret, the current bull altseason is not forever, and sooner or later it will end), and thirdly, you will have fewer deals and you will get longer experience in trading, and all theory without experience is of no particular use.
A trader should always have tomorrow.
If this information is useful, please like and subscribe, so as not to miss anything.
