A Look at Bata (BTA)

After a sharp spike in June, Bata has been in a decline until the beginning of September. At this point, the price has been steadily creeping up and consolidating as it does. I guess in normal trading terms this is a bullish pennant. But hey, this is crypto and it does what it wants! Hopefully, this is an indicator that the price will continue its upward trend or break out in a upwards direction soon.

Below is the daily chart from Bittrex:

The upward trend has been bumping up against about 19000 satoshis, right at what today's price has risen to. For the month of September, the upward trend has followed the line traced on the graph with amazing precision. I have put a 5 day (yellow) and 30 day (purple) simple moving average on the chart. The 5 day moving average has been creating a nice lower resistance level for some days now. It has also been staying well above the 30 day as well.

I try not to be an idiot about investing. For me, there are lots of positive signs here. I am putting my money on Bata to be going up soon!

What do you think?

This is not investment advice. I am not a professional; just someone who likes looking at charts and patterns. Investing and trading altcoins is risky; do not invest more than you are willing to lose!