AustinLFX
Long

(BCD/ETH) A Diamond In The Rough?

BINANCE:BCDETH   Bitcoin Diamond / Ethereum
BCD             has retraced to find support after creating all time highs. We seem to have found a solid support level in the area of 0.0960 - 0.0900. We have concluded an impulsive move and have created a range. The most probable outcome for a range structure is that which ever side was in control leading into the range, will be in control leading out of the range. In this case, the bulls. In a bullish scenario, we will look for a breakout at the top of the range, before entering on the retest of that level. (0.1290)

2 of these trades can be seen back to back on the XRP/USD daily charts from 12/14/17 - 12/29/17

Entry:
- Retest of the prior resistance (0.1290) after breakout, seeing that level treated as support.

Targets:
- My personal target will be 0.200.

What Do You Think?
- What do you think? Are you bullish/bearish on BCD? Why?

Please remember this is simply an idea, so treat it as such. I'm not saying anyone should invest their money based upon my ideas, do your own research first. This is simply to see what others opinions are and provide food for thought.

Happy Trading!
Comment: Range structures can also be bought and sold. 0.096 provides a support for entry, target 0.129 take profit.
Comment: Looks like there is also a bullish pennant in play.
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