BAT hasn't had the best string if months. From a rather boring June to a really bad July and now in August, BAT hasn't really moved far, or fast.
However, I feel that's about to change. Here's why I feel that way.
However, before we get into the why, I'd like you to know that I run a telegram group where I give signals and trading education. It's free to enter and join the channel, but I charge a small fee to receive the high probability signals and educative content. Check it out here, scroll up and check the accuracy of the calls, and tell me what you think!
Now, on to BAT.
Edit: Try as I may, I couldn't insert any images into this editor. I tried with my mobile chart and desktop chart, but neither worked. I also tried to reduce the size to a level where it's still visible to see what's on the chart, but that didn't work either. I will try to be as clear as I can about the levels. Please bear with me.
The only thing stopping BAT right now from teleporting to $0.50 is the tough $0.30 resistance level. Whenever price reaches that level, there's usually a huge sell off which takes months to recover from.
It seems a lot of bagholders are stationed at that spot, with new bagholders coming in every time price reaches that level. I believe a break of that level would be extremely explosive and would take us straight to 0.50 in one candle.
Here's the current view of BAT/USD.
Price is still in a range. If you read my price analyses from a few days ago, you'd realise that BAT broke off from the uptrend line, and began consolidating in a range. I still believe this is simply a range deviation, until I'm proven otherwise.
Range deviations are simply times when big players accumulate the asset before a big run up.
Once BAT breaks out of this accumulation and precedes to the upside, we will see 0.50 in a very small time frame, and possibly even $1 within the same period.
My trade ideas are very simple: Buy on a close above 0.32 on the daily.
Very simple setup, and I'll target 0.50 for an easy 56% gain.(I did this exact setup with XRP that led to an exact percentage gain as well. I shared that setup in a post here, so congrats if you took it!)
Thanks for reading.
