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Long

Bullish Bitcoin Diamond: Double Falling Wedge

BINANCE:BCDBTC   Bitcoin Diamond / Bitcoin
Bitcoin Diamond ( BCD ) Overview

Bitcoin Diamond ( BCD ) is a hard fork of Bitcoin . The fork occurring at block height 495866, implemented changes including a new proof of work algorithm to deter attacks on the network and segregation of transaction signatures from transactions on the chain for additional capacity allowing a greater number of transactions per second on the network as a whole.


Bitcoin Diamond ( BCDBTC ) Chart Analysis

We are looking at Bitcoin Diamond ( BCDBTC ) on the daily time frame, we have the bullish pattern called "Falling Wedge", let's take a look:
  • We saw a falling wedge , drawn left, that produced an 85%+ breakout. Now we see a second falling wedge forming for Bitcoin Diamond which we believe can produce even more gains.
  • This pattern is supported by bullish divergence on the MACD , marked with magenta arrows.
  • We have the same divergence shown on the RSI . The bounce on late May might as well have been an accumulation move.
  • Big bags are being accumulated by whales and big money all across the board... Something really big is coming.

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