Just a quick update to an earlier post- BCD appears to be respecting the 200 EMA and the 7 degree local resistance. If it can't break through the confluence of resistance, I'm expecting a retest of support. Given the market is overall bullish for alts currently, anything less than a bullish rally in the coming weeks is a bad look for BCD , in my opinion.
That said, MACD isn't wholly bearish , not is squeeze momentum, which appears in both cases to be waning bearish , almost neutral. This has a chance to break to the upside, but we want to see a strong breakout and/or confirmation of support on break. Otherwise this chart doesn't inspire me with a lot of bullish sentiment.
That said, MACD isn't wholly bearish , not is squeeze momentum, which appears in both cases to be waning bearish , almost neutral. This has a chance to break to the upside, but we want to see a strong breakout and/or confirmation of support on break. Otherwise this chart doesn't inspire me with a lot of bullish sentiment.