Should've seen this coming.

If you follow me, you'd know that I recently started accumulating my BAT tokens instead of selling them for BTC. This is the 3rd week of me doing that.

I recently gained enough tokens to be able to start trading, so whoppee for me!

In this post, I'll give a short and sweet technical analysis of the BAT token, and what to expect from it in the coming days.

But first, let's throw up the chart.

Binance mobile view. I'm far away from my laptop right now, but I'll make it interracive. I promise!

looking from the previous all time low, we can see that BAT has started an uptrend and doesn't seem to be stopping. There are a few dips here and there, but overall a nice uptrend.

Using a simple ATX>25 short term range reversal strategy, we would have caught a few of those solid green candles towards the end of the trading day.

Those three bullish candles are extremely bullish, which means that red candle forming after the all time high or the day will lead to a consolidation of price towards the next support. 

As it is certain that price cannot keep going up forever, we will see a drop down from that price.

Now might be a good time to short all long positions on BAT and secure those pips.

On the flip side, if the price does continue in an upward move, the next resistance point is at 0.26 USD. A break above this point will mean that BAT might sky rocket to its next resistance, which is $0.3. 

A break or that last resistance is highly unlikely, so I won't bore you with the deets.

The ATR strategy I'm using to test this is based on the Average True Range of the previous 14 candles, and uses a Stochastic as a confirmation of entries. Exits happen on impulse or when my TP point has been reached.

Thanks for reading this post. I understand that not everyone will understand all that I've written here, so if you have problems understanding any terms, do let me know in the comments.