randywald

Blockchain Foundry longterm uptrend channel

Long
CSE:BCFN   BLOCKCHAIN FOUNDRY INC
The stock of blockchain foundry is in an uptrend channel since 2019.
Comment: The blue channel is the demand zone where the stocks likes to chill. It is very unlikely that the stock will fall below that zone. The zone above (marked with the yellow eye) is where the stock is waking up. Above the white trendline (marked with the rocket) it gets very bullish. As the bitcoin related stocks usually profit from the bitcoin price i am awaiting a breakout above the white trendline very soon. Ideally we see a retest and a bounce as a confirmation of the breakout. This would be the technical buy signal.
Comment: I hope you like my very simple way of analyzing. After confirmation of the breakout i will show you my amazing price target ;D
Comment: It is already heating up a bit. Next week it will go bananas ;D
Comment: Exactly as predicted it broke above the white trendline. A small correction back down to the trendline is possible bot not necessary.
Comment: Daily Chart: Cup and Handle Breakout at 0.385. Extending the height of the cup (0.12) onto the handle is giving us the technical price target of 0.505, which is slightly below the previous high.
Comment: We hit the target i spoke out yesterday.
Comment: New ATH incoming!!! Price is already up 20 % in germany after the weekend. Wait for markets to open in usa and canada.
Comment: Wow. I thought i could be wrong this time as the BTC price went down significantly after my post. Do we see a decoupling from BTC markets now? That would be a very strong signal for BCFN! Please leave a comment and share your opinion!
Comment: BCFN outperformed ALL other blockchain stocks today!
Comment: Time for a correction.
Comment: And exactly as predicted, we had the mentioned correction.
Trade active: I am starting to buy (Dollar Cost Averaging) now. BCFN is at the price where big investors bought in.
Comment: It is very interesting how it respects the channels i drew.
Comment: The rocket was literally placed at the exact right point i think ;D
Comment: I expect the price to rise to arround 0.42 or slightly higher for a confirmation on the trendline (retest) at 0.39.
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