Just two weeks ago Bitcoin Diamond (BCDBTC) had a strong breakout which produced a nice 67% profits, after which a classic retrace started...
Take a few minutes to hit like now, if you want to, and let's take a look at the signals coming from the Bitcoin Diamond chart.
BCDBTC's price retraced all the way down below EMA10 and EMA50 and also almost reached 1 Fib. retracement. Soon after, a bullish Doji candlestick showed up which is signaling the end of this move.
Bear volume is really low and the RSI remains strong.
All these signals are telling that this retrace might have come to an end.
Looking at the chart below, if we aim for EMA200 and EMA300, we are looking at 160% to 390% profits potential respectively on the next wave. Here is the chart:
The first barrier (resistance) to break is the 207-213 range, a strong close above it, and a new bullish wave can start.
This is a friendly reminder. I will be riding this wave and see how it goes.
If you have any questions or anything to share, feel free to use the comments section below. I am always happy to read comments and all feedback.
Thanks a lot for reading.
This is Alan Masters.
Namaste.
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If you go for Bitcoin Diamond based on this analysis, remember to always have a plan (targets and stop-loss).
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Resistance is being challenged and volume starting to show... These are positive signals if you are a bull.