Should You Buy Basic Attention Tokens after the Big breakout?

Basic Attention Token (BAT/USD) rebounded last week by üover 50% – the long-awaited breakout set in. Investors who missed the rally are now looking to get into BAT. However, getting started at the right time is crucial, as an early start could prove to be risky. It looks like würde now asked to re-test the trend line, after which investors expect a new all-time high. Is it too late to invest in BAT now?

Here’s what the charts indicate:

  • BAT has formed a wedge pattern and an outbreak was observed earlier this week.

  • BAT gave a breakout after seven months of trading under the wedge, which indicates a strong breakout. Some big movements could be seen soon.

  • BAT was in the bought area on Sunday, which could be the reason that BAT is now moving towards the trendline to test it again.

  • Earlier this month, a golden crossover was observed. This indicates that this could only be the beginning of a recovery.

  • At the beginning of this week, huge volumes were also recorded: an indication that the outbreak will not fail and will be able to maintain the retest.

  • A long entry can be made as soon as the BAT reverses from the $1,443 zone. A bounce on the re-test will confirm the breakout.

  • A new all-time high can be set as a goal. However, investors should be careful and only enter when a clear reversal is seen.

  • A stop loss can be set at $1.28.

The post Should You buy Basic Attention Tokens after the big breakout? appeared first on Coin Hero.

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