(Inverted Chart) Bitcoin is currently hovering just underneath $30,000. I believe the move to the upside is due for at least a temporary correction. My thesis going into 2021 is that when Bitcoin begins to pullback billions of dollars will flow into the altcoin market. Basic Attention Token is one altcoin with solid fundamentals, a growing community and is a clear leader in the sector it is trying to disrupt. The price action has been range bound since 2018 with price currently sitting in the middle of the range at around .2070. If price revisits the previous peak it will appreciate by about 100% from the current level. If price manages to break out of that channel past that previous peak it is extremely bullish as it could trigger a blue sky breakout price discovery. In that case i will make an updated analysis of BAT. Stop-loss is highly recommended under current conditions due to Bitcoins over-extended nature. If BTC corrects sharply it could negatively impact the altcoin sector as well.
Nice analysis thanks. For my knowledge, why is your chart inverted ?
Theinvertedtrader
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@Muska17, appreciate it. Just wanted to present my analysis in a way different from the conventional. Yes it may seem a bit confusing to the average person. But those willing to take the time to read the idea and properly assess the TA will get it.