weekly BAT price analysis based on traders behaviour

BAT is a native coin of the brave platform that rewards creators

for distributing their content as well as users for accessing creators contents via brave platform. BAT token is being issued and created on the ethereum network thus one user can be able to transfer their brave token from one ethereum smart contract address to another without involvement of a third party thus making it a decentralized cryptocurrency. The validators running the ethereum network are the one who will initiate the transaction to the second smart contract address upon the first smart contract address to have paid the gas fees. On Monday the 13th of April, one BAT started trading at around
$0.1540. By Tuesday the same week, one BAT had gone as high as $0.1610. This increase in price has been due to the BAT market to have experienced an oversold condition. This causes the market to gain an upward market direction. This can further be explained as below based on traders behaviour

Traders behaviour

BAT has a huge community of creators. Each creator has managed to entice the community of his content to join the brave platform so that they can support their channel or website. This makes the BAT coin to have a huge buyers and sellers thus causing it to be able to be traded in an upward and downwards direction where traders can still profit from the BAT market. Therefore, we can say that when the BAT market is trending in an upwards direction, that will be an indication that the market is in an oversold condition. This will make the BAT market to gain an upwards pressure where it will move upwards with few buyers so that it can profit with them and makes many sellers make some losses. On the other hand,when the BAT market is trending downwards, that will be an indication that the market is in an overbought condition. Because of this, the market
moves downwards with few sellers so that it profits with them and makes many buyers make some losses. Since the BAT market was able to show a possibility of bullish market on Monday and Tuesday, the weekly bullish market for BAT can further be explained as follows;

1. Weekly BAT bullish price analysis based on traders behaviour

In a bullish market, the BAT will be moving in an upwards direction. On Monday the 13th of April 2020, one BAT started trading at around $ 0.1540. By Tuesday the same week, the price rises all the way to around
0.1610. This increase in price has been due to the number of BAT sellers being more than buyers and is being illustrated as from the candlesticks chart below;

The above is the BAT market in terms of USDT. From the market above, two points are being indicated. There is point A and point B. Before point A, the BAT market can be seen to be moving in an upwards direction all the way to 0.1610. This upward movement has been as a result of an oversold market condition for BAT which causes the BAT market to gain an upward market pressure and moves upward to
0.1610 as stated earlier. At 0.1610, More traders started to purchase some BAT in the hope that the market will continue moving upwards. This cause the market to experience an overbought condition thus causing the BAT market to resist moving upwards and reverse in a downwards direction all the way to point A at 0.1575. At point A, more sellers started to sell their BAT holding in the hope that the BAT market will continue moving downwards thus causing their holding to decline in value. This causes the BAT market to experience an oversold condition where it again gains an upward market pressure and moves upward to above 0.16051. If this might continue, then the market can afford to reach $0.20000 by the end of this week. If you had previously purchased your BAT and your are still holding, then you can continue holding until it reaches $0.2 so that you sell to make some profit.

Summary

BAT is a native coin of the brave platform created and issued on the ethereum network which is used to reward creators for sharing their work to their community as well as users for viewing ads while watching creators work. There is possibility of the BAT to be moving upwards the whole week after it started trading at around $0.1540 on Monday but rises on Tuesday to around $0.1610. Therefore, we can say that when BAT is in an oversold market condition, that will be an indication that the sellers are more than buyers thus the market will be moving upwards while when the BAT market is in an overbought condition, that will be an indication that the buyers are more than the sellers thus the market will be moving downwards . This is the right time to buy some BAT at current price of around $0.158 and holds it until it reaches around $0.2 by Sunday.

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