BAT Bull flag consolidation before another move up?
Hello traders,
On 1H chart we can see that BAT is forming huge bull flag after nice growth. This downtrend channel is just regular consolidation after bigger move up. BTC dominance is still falling, next support is at 58% so there is much more space for alts to grow. There are also rumors that BAT is one of candidate for Grayscale portfolio (cryptobriefing.com/grayscale-hints-5-more-cryptocurrency-trusts/) It this becomes reality, BAT will obtain huge pump up. But for now, it is just speculation.
In case of entering long - if entering long above lower flag trendline, put SL under lower tl, if entering long above upper channel tl, sl below upper sl. Always use stoploss.
I will appreciate like & follow if you like this setup.
This is just idea, not investment advice
TRADE WITH BRAIN, NOT GREED
On 1H chart we can see that BAT is forming huge bull flag after nice growth. This downtrend channel is just regular consolidation after bigger move up. BTC dominance is still falling, next support is at 58% so there is much more space for alts to grow. There are also rumors that BAT is one of candidate for Grayscale portfolio (cryptobriefing.com/grayscale-hints-5-more-cryptocurrency-trusts/) It this becomes reality, BAT will obtain huge pump up. But for now, it is just speculation.
In case of entering long - if entering long above lower flag trendline, put SL under lower tl, if entering long above upper channel tl, sl below upper sl. Always use stoploss.
I will appreciate like & follow if you like this setup.
This is just idea, not investment advice
TRADE WITH BRAIN, NOT GREED
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.