randywald

The pattern for Blockchain Foundry may repeat again

CSE:BCFN   BLOCKCHAIN FOUNDRY INC
After a long phase of accumulation the stock of BCFN came to life in the beginning of 2021 and blew through 0.50 CAD. I analzed how it behaved before that and saw that it already followed the same pattern for 2 times. If the pattern repeats again the next pump takes us slightly above $1. When will it happen? Well, i don't know. It may take several months until the market is ready for this move.
Comment: The 283 % increase i always measure after a "double bottom" on one of the red trendlines
Comment: In my eyes, the best buy opportunity may be while the price dips in between the second and third red line.
Comment: This is my first analysis. I know that some things like the 1h chart are not optimal. Tell me what you think about it and have a nice day! :D
Comment: Looking good so far. Let's bring it down to arround 25 cents to confirm my pattern. After that i think we are already in the accumulation zone for the next wave :D Also a bounce at arround 25 cents would be the confirmation of the previous high in Aug 2020 and this makes the upcoming move even stronger. Have a nice day and don't miss out to buy the dip :D
Comment: At the current speed the stock price is falling i maybe see it going below 20 cents for a short period of time. I looks like the current rise is completely beeing dumped down.
Comment: Candlestick Chart shows us that my target from yesterday of 25 cents was hit. We immediately saw it bouncing back from that level to over 30 cents. I measure a total drawdown of 55 %. Decide yourself if my pattern was already completed or if we need to test it again. You can use a fibonacci tool. When i started this analysis, i did not think it would go down that fast.
Comment: Lets see how the market behaves next week. If you want to buy in i suggest you to do Dollar Cost Averaging (buying in tranches) over a few weeks while the price is within a reasonable range.
Comment: 23 cents (CAD) this week? What do you think?
Comment: I think 25 cents was a healthy retracement and close enough :D
Comment: It goes way faster than i expected. BCFN outperformed all other blockchain stocks today! I Am so happy :D
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