BigBitsIO

BATBTC - 1D Entering Resistance with mixed signals

BINANCE:BATBTC   Basic Attention Token / Bitcoin
BATBTC has been moving great over the last few weeks, although progress will be hard to come by soon I think.

  • Resistance is visible in the red box. Two times the areas circled in red in the red box held as support, but the price is now approaching from below meaning they could prove as points of resistance.
  • The 50 day SMA is forecasted to cross above the 100 day SMA in the coming days as shown by the forecasting in my Triple Many Moving Averages indicator.
  • My Smoothed RSI indicator is showing an extended period of time spent with an elevated RSI. This is usually a bearish sign.
  • MACD still trending upwards, bullish.
  • Stochastic RSI is at overbought levels and appears to be peaking at lower levels while the price is climbing. Also, this is a very high Stochastic RSI compared to its levels where the red box price area once acted as support, as pointed out by the red circles on the indicator.

This might be a good opportunity for me to take partial profits and buy the dip. I am targeting 3000 satoshis for this current move, but I think I would be interested in buying the dip.

I remain Neutral because I expect there to be more time to accumulate.

DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.

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