Crypto Chart Analysis
By an Absolute Amateur!
That's me! Sigh... don't you love how anyone can claim to know stuff about things? I've never been fond of making such claims in most cases, but I seem to always have a noggin-shelf full of opinions and analyses on my favourite topics... crypto futures being one of them.
It's exciting to wonder what's around the corner for these new currencies, don't you think?
The Basic Attention Token included!
Actually, it's one of the most exciting currencies on the market today. BAT's value-- like that of many other tokens and altcoins-- is tied to its function and the popularity of its surrounding infrastructure. So in many ways, BAT is dependent on the Brave browser (and vice versa).
And all altcoins seem to move somewhat in tandem with the price of Bitcoin. That is very important point to make... much like stock markets, an individual security is always effected by the major movements of the markets themselves. Some are less volatile-- some more-- but the flow of the different currency charts all show similar patterns.
Having said that, it just feels like the Basic Attention Token has a bright future ahead (without even looking at the charts)... the general sentiment has been quite positive, and the healthy user base growth suggests more of the same going forward.
I have charts anyway...
I used to really enjoy spotting trends and patterns in stock charts. Was I any good at it? I wasn't bad... but I am not a professional or even an exceptional amateur. I just like to learn and apply things, and the theories and signals are no different with cryptocurrencies...
So humor me for a moment: take a look at the lines I've drawn on the two charts in the picture. The top chart is almost two years of BAT's price movement, and the bottom one is 90 days. The lines are drawn at common points of support/resistance, as you can see when you look closely.
The common line between the two charts is around $0.185, just underneath where the price is today, and there is one a bit lower at $0.15. I don't believe BAT will drop down below that range for now... it seems more likely to use that $0.185 support as a springboard to recover some of its growth from the autumn last year.
So my best guess is: the price of BAT will climb quickly to the $0.225 ballpark, adjust, kick up and down for a bit before settling up at around $0.30 in a few months. Long-term upward momentum, but too many variables come into play the further out you try to forecast.
Grain of salt, people!
Do your own research too... look at charts, read about it, ask people much smarter than me. And feel free to leave your thoughts in the comment section-- I would love to hear what everybody thinks about the Basic Attention Token.
