top of page
  • Writer's pictureAdmin

Basic Attention / USD Technical Analysis: Uncertain Future

/* custom css */ .td_uid_1_5da2e9806ad61_rand { min-height: 0; }

/* custom css */ .td_uid_2_5da2e9806b159_rand { vertical-align: baseline; }


  1. Basic Attention is bullish in the short-term with the pair recently moving to a fresh 2019 trading high

  2. Bearish MACD divergence is present on the four-hour time frame

  3. BAT / USD pair’s medium-term outlook is neutral with bullish and bearish MACD divergence also present on the daily time frame

 

Basic Attention / USD Short-term price analysis

Basic Attention is bullish in the short-term, with the cryptocurrency recently performing a strong technical breakout from a descending wedge pattern on the four-hour time frame horizon.

The recent rally in the BAT / USD pair has created bearish MACD price divergence, which has been forming since the start of the cryptocurrency’s recent bullish breakout. Technical indicators across the four-hour time horizon are also starting to weaken.


BAT / USD H4 Chart                                                             (Source: TradingView)

Pattern Watch

If the cryptocurrency continues to trade higher a bullish inverted head and shoulder pattern will start to form.

MACD Indicator

The MACD indicator on the four-hour time frame is showing large amounts of bearish price divergence.

Relative Strength Index

The RSI indicator is turning lower on the four-hour time frame, traders should watch the indicator to start to make lower lows.

 

Basic Attention / USD Medium-term price analysis

Basic Attention currently has neutral medium-term bias due to the cryptocurrency showing bullish and bearish price divergence on the daily time frame.

Price is moving towards the pair’s 200-day moving average, a sustained move above the 200-day would shift the BAT / USD pair’s outlook to bullish.

The daily time frame is showing that bullish momentum has remained consistently weak, despite the major upside breakout in the cryptocurrency.


BAT / USD Daily Chart                                                      (Source: TradingView)

Pattern Watch

A potential bullish inverted head and shoulders pattern is starting to take shape across the daily time frame.

MACD Indicator

The MACD indicator is showing bullish divergence from November of last year, whilst the most recent rally in the cryptocurrency has created bearish price divergence.

Momentum Indicator

The momentum indicator on the daily time frame is showing that buying momentum has remained weak during the latest upside rally.

 

Conclusion

Basic Attention may correct lower in the near-term, due to bearish MACD divergence present across the four-hour and daily time frames. However, upside risks are still present for the cryptocurrency, as the BAT / USD pair is showing bullish price divergence from last November, which could easily start to come into play if buyers force price above the pair’s 200-day moving average.



Basic Attention Token Chart

Chart byCryptoCompare #ccpw-ticker-24340 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24340 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24340 a.tabperiods.tabperiods_active, #ccpw-ticker-24340 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24340 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24340 .coin-container:after, .ccpw-container_four #ccpw-ticker-24340 .coin-container:after {border-color:#ccc !Important;}

 

Join the conversation on Telegram and Twitter!

Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment

1 view0 comments

Comments


bottom of page