BAT & Coinbase: More Upside to come
BREAKING. FOR IMMEDIATE RELEASE AND INFORMED DECISIONS
Coinbase Pro and Coinbase has started trading on BAT or Basic Attention Token as of Monday 5th November. Despite this, the entire market seems to be inclining as Nouvive and Nouvive Research has found. This has caused Nouvive Research to find that both BAT has some more upside coming.
What does the Technical Analysis Say?
- Accumulation has increased more in November – despite the coinbase listing – a lot of the open interest has not declined
- RSI Stochastic is incredibly oversold, the last time we saw this was at $0.23, at the current trading price of $0.312 this could mean we could see $0.43 based on historical trading data.
- RSI Stochastic on the higher time frames will cross over shortly – especially if $0.30 is tested which is the 15D MA.
- Volume is decreasing with increased buy side support, this means that we will see price and volume constrained before we shoot off to $0.43
- If BAT shoots up to $0.43, this could see all the MA’s cross over on all the higher time frames, seeing a further favourable bias towards the bulls.
- 15MA is acting as a resistance – traditionally a sight of further bullish momentum.
- The entire market is inclining – therefore we will not see a dump to the overall market at the moment.
- There is a lot of sell side support as BAT seeks to fight its way to $0.43
- BLACK SWAN Event: Where we could see a lot of the BAT holders sell before $0.33 is tested.
- 0.33 has acted as a resistance 3 times – this could also a sign of a bull trap before crashing to fill the volume gaps on the way down.
- A lot of volume gaps on the way down
Nouvive awards a BUY for BAT at current market figures and forecasting $0.43 at the minimum.
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