BAT Token: The token that never gives up rising!
Morning to all and good day traders! Today I am giving another update on one more altcoin I have high hopes for: The BAT TOKEN, along with the brave browser potential.
Right now we see BAT trying for its third time to retest the highs of resistances @0.295, last touched in Nov 2019, before a huge selloff typical for most coins, as the year comes to a close. From just Jan to mid Feb, in the span of 1.5 months, it surged past its old resistance to touch a new high @ 0.3185, before selling off to the 0.200 level! I expect it was gaining bull momentum from here as seen with the strong rebound till 7 March 2020, where a massive dump reverse the BAT surge as we all know, thats when the Corona Virus impact hit.
From what I see, in the historical data, BAT has some massive bull potential, rebounding and regaining upwards pressure quickly even after large dumps.
On 9 May 2020, BAT surged past but was REJECTED @ the resistance 0.2296 level ( 0.618 fib) now breaking out past it today! I expect this level to pose a strong support, now having flipped. Our next target is 0.2530, which was the second rejection, after which our next targets for a LONG OPPORTUNITY would be:
- TARGET 1 @ 0.2695 (0.786 fib level)
- TARGET 2 @ 0.3085 (1.0 fib level, historical resistance)
Breaking above target 2 will most likely mean a parabolic curve upwards, due to the lack of resistance levels above it. I then will expect the next target to be 1.618 fib level, coincidentally our previous high @ 0.4681, last touched in 20 April 2019. Also, expect some pullbacks as each resistance is touched.
Fundamentally, BAT is a sound project and this would be one that I recommend HODLING, instead of trading, due its longer term potential to become one of the more widely used browsers now that privacy is being more emphasized on.
As always, feel free to like and follow if you enjoyed what I shared!
Best Regards,
GOLD D ROGER
Right now we see BAT trying for its third time to retest the highs of resistances @0.295, last touched in Nov 2019, before a huge selloff typical for most coins, as the year comes to a close. From just Jan to mid Feb, in the span of 1.5 months, it surged past its old resistance to touch a new high @ 0.3185, before selling off to the 0.200 level! I expect it was gaining bull momentum from here as seen with the strong rebound till 7 March 2020, where a massive dump reverse the BAT surge as we all know, thats when the Corona Virus impact hit.
From what I see, in the historical data, BAT has some massive bull potential, rebounding and regaining upwards pressure quickly even after large dumps.
On 9 May 2020, BAT surged past but was REJECTED @ the resistance 0.2296 level ( 0.618 fib) now breaking out past it today! I expect this level to pose a strong support, now having flipped. Our next target is 0.2530, which was the second rejection, after which our next targets for a LONG OPPORTUNITY would be:
- TARGET 1 @ 0.2695 (0.786 fib level)
- TARGET 2 @ 0.3085 (1.0 fib level, historical resistance)
Breaking above target 2 will most likely mean a parabolic curve upwards, due to the lack of resistance levels above it. I then will expect the next target to be 1.618 fib level, coincidentally our previous high @ 0.4681, last touched in 20 April 2019. Also, expect some pullbacks as each resistance is touched.
Fundamentally, BAT is a sound project and this would be one that I recommend HODLING, instead of trading, due its longer term potential to become one of the more widely used browsers now that privacy is being more emphasized on.
As always, feel free to like and follow if you enjoyed what I shared!
Best Regards,
GOLD D ROGER
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