Price analysis | BTC & BAT

By MadMaxx | Psycho Crypto | 16 Aug 2020


Before we get started, I'd like to introduce you to a brand new project my friend, Maddcryptodogg and I have started working on. It's a discord server where like minded traders can gather and share knowledge. Noob traders can also learn from the discord as well, as we have a complete technical analysis course. We'll also share trade setups and more fun stuff. Consider joining the discord here, and be sure to check Cryptodogg out!

Now let's get into the analysis!

First off, if you didn't get into BAT after I have shilled it countless times since March, it's quite obvious you really hate money. Because that was a great chance to really accumulate your BAT.

That aside though, BAT has been having a great day, and that was what prompted me to write this post.

As of writing this, BAT is already 10% up on the BTC pair (my pair of choice because I live accumulating BTC).

Let's look at some charts and discuss a bit.

 

BTC: About to spoil the alt fun?

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Bitcoin looks like shit. It was rejected at 12k again, and it looks to want the mid point of this range as support. If BTC breaks the mid point, we can very well say "bye" to alt season. Lots of selling pressure below that line, and bulls have only been able to barely keep price afloat. 

However, a friend of mine sent me a fractal that really reinforces the fact that Bitcoin may be dumping soon. You can check out the fractal here.(you can also get free calls and education from that link )

However, BTC's range has made it possible for altcoins to start pumping like crazy. We've enjoyed these alt pumps in the past few days, and I believe more is to come if BTC remains this lethargic.

 

BAT

Now on to the fun stuff.(the setup was taken before the triangle broke in my trading group here)

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I shilled BAT for a long time, and it's starting to pay off. I've accumulated a lot of this stuff since March, and I'm up my 2x my monthly expenses on this small pump.🤓

That said, I believe that this is only the beginning. BAT had flipped the red zone, and is headed upwards for uptrend continuation on the BTC pair.

The USD pair looks like trash, but I've explained in one of my posts why that is so. Essentially, the dollar index was dumping at the time, so anything paired against the dollar also dumped. That included BTCUSD and BATUSD. So I switched to trading the BTC pair.

The RSI also pumped on this move up. I can guarantee this move continues to the upside should BTC stay calm.

Thanks for reading! Don't forget to join our discord with the link above. Like and too this post if you enjoyed it, and a follow would be lovely as well!

Till the next post!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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