Basic Attention Token finally breaking above the descending channel as well as the downtrend trendline after rejecting the $0.123 support several times. BAT/USD shows higher highs and higher lows pattern, which is also suggesting the beginning of an uptrend.
Although the trend has been established it is not necessary that BAT will start moving higher straight away, prior consolidation is also possible. The upside targets are seen at 127.2% Fibonacci retracement applied to the corrective wave from 17th of August. The second target is the key resistance at 161.8%, that is $0.41, very close to $0.4 psychological level.
If BAT manages to break above $0.4, an uptrend is likely to continue and perhaps accelerate. On a downside note, the strong support remains at $0.123, where break and daily close blow should result in BAT/USD going even lower.
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First target reached
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BAT gowing towards second target
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There is huge upside potential and BAT is likely to go much above my target
Trade geschlossen: Ziel wurde erreicht
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First strong resistance reached, needs to break above to continue