Basic Attention Token has established an all-time high at $1, followed by a strong correction down to $0.23 support. This is the level where previously was acting as a resistance and then the support, and yet again history repeats itself. The support is also confirmed by the uptrend trendline, that has been rejected cleanly.
In addition, Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that $0.23 is also a 461.8% retracement level, confirming the presence of the support.
If BAT/USD will continue trading above that level, the trend could reverse to the upside and perhaps move to a new all-time high. The price seems very attractive in terms of buying opportunity and only break and close below the support could invalidate bullish outlook.
In addition, Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that $0.23 is also a 461.8% retracement level, confirming the presence of the support.
If BAT/USD will continue trading above that level, the trend could reverse to the upside and perhaps move to a new all-time high. The price seems very attractive in terms of buying opportunity and only break and close below the support could invalidate bullish outlook.