Basic Attention Token quickly sold off after reaching a new all-time high. Covered: What Happened to BAT’s Chart. BAT Charts (Weekly, Daily) Despite Last Week’s Volatile Selloff BAT Holders Are Holding On You probably saw the picture above if you’re a Brave user. If you haven’t, you might notice it next time you use Brave. […] The post BAT Ready To Fly After Recent Dump appeared first on CryptosRus.

BAT Ready To Fly After Recent Dump

Basic Attention Token quickly sold off after reaching a new all-time high.

Covered:

  • What Happened to BAT’s Chart.
  • BAT Charts (Weekly, Daily)

Despite Last Week’s Volatile Selloff BAT Holders Are Holding On

You probably saw the picture above if you’re a Brave user. If you haven’t, you might notice it next time you use Brave. You can even earn BAT for using Brave and you can find out more about it here.

BAT reached its new all-time high on Nov 28 after surging over 30% the previous day.
It looked as though it was on the cusp of reaching $2 for the first time.

What happened was a quick selloff. Last weekend when the entire crypto market sold off, BAT got as low as $0.90 USD. That’s a lot of volatility to stomach.

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Let’s look at some charts.

There is not much data to glean from on the monthly chart, but we can see a triangle consolidation, followed by a breakout. The breakout failed to follow through so far. But that is not to say that the move is over.

This looks like the combination of 1. quick profit-taking for momentum traders, 2. getting out of even with slight profits for bagholders who bought the previous top, and 3. shaking out the chasers who bought the breakout to the upside by the whales.

BAT: Monthly

If you bought BAT at its all-time high in May, holding it till now was tough unless you’re a HODL’er with a stomach lining made of Teflon.

Most market participants would’ve been quite exasperated by the entire crypto market getting a huge haircut back in May and BAT was no exception.

So when considering market psychology, its recent breakout (albeit short) in late November had a short window to exit while breaking even.

Still, BAT is showing a nice uptrend from the weekly chart perspective. Trend followers would like this.

BAT: Daily

BAT is below 50MA (Salmon) but it’s also holding above a support zone and its daily momentum is trying to correct. It looks like it’s attempting to get back over the trendline which acted as a launchpad during the previous run-up in late November.

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