BAT vs Bitcoin Range Trading

Following the previous idea on Basic Attention Token, price has reached the upside target at 61.8% Fibonacci retracement level and rejected it. Currently BAT is correcting downwards and it seems that it has stuck between the support area near 3600 satoshis and resistance at 4700 satoshis.

Nevertheless, BAT/BTC started to produce hihger highs and higher lows and the probability of the uptrend continuation remains high. Although price enter the consolidation phase while continue ranging between the support and resistance.

Break and close above the 4717 satoshis, should confirm the uptrend and potentially result in a strong growth of BAT against the Bitcoin. But if it breaks below the 3500 satoshis support, further decline towards 3000 satoshis should be expected.

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