BAT – ALTCOIN CHART ANALYSIS

BAT is in a clear downtrend. We haven't been able to see much upward momentum here lately. However, we may see a breakout on the smaller timeframes.

We are currently trading at around USD 0.30. On the 4H chart, we left the first small downtrend sideways a few hours ago, but without significant buying volume.

Here it will be important in the short term that we move into the area around USD 0.32. There lies the monthly resistance P, 200-SMA and 200-EMA. If we break all resistance, a pump could follow.

However, the picture looks much more bearish on the daily chart. We don't see any bullish impulses here. Trading volume continues to decline significantly even though we broke out.

So we have to orientate ourselves a bit downwards in the next few weeks. The area around USD 0.25 – 0.26 in particular catches the eye here. There lies our last low.

This was formed with a lot of volume, which is why there are a lot of stop-loss orders here that we could still get. Should we get that low, it's important that we consolidate some there until we can move higher.

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