๐ Daily TA: Basic Attention Token (BAT/USD) | 27-11-2021
All Time HIVE and hodl, dear members of LeoFinance!
The crypto market, in particular, most major cryptocurrencies are experiencing a correction. Nevertheless, always, there are exceptions - some cryptos are trading in the green zone. One of these exceptions is Basic Attention Token. That's why today let's have a look at the price chart of BAT.
In the weekly chart (1W), BAT/USD is trying to form a very solid bullish candlestick: Actually, this may turn out to be the biggest weekly price increase of BAT since inception. Moreover, this weekly candlestick contains the new all-time high (ATH). So, this is a solid bullish signal.
Also, if we have a look at the daily chart (1D), BAT/USD has exited the Symmetrical Triangle in which the price spent most of the year: As can be seen from the chart, a breakout took place recently, and the price has started to move upwards. Theoretically, this may be the very beginning of the long-awaited uptrend. Of course, in the short and mid-run, the price can experience a lot of volatility (solid increases followed by deep corrections). But I think that if we have a look at the price chart in 2-3 years from now, then the current price may turn out to be one of the lowest points in the future price chart.
To be continued ...
As of the time of writing, one BAT costs $1,7867 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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