Bytecoin is currently following an Ascending Triangle pattern on the 1H Chart after its recent surge caused by the Binance listing.
Ranked number 18 overall, Bytecoin has a huge market cap in the Crypto space.
There are two very simple scenarios:
1. BCN breaks upward out of the triangle and goes Bullish
2. BCN breaks downward out of the triangle and goes Bearish and will find support near last breakout at 75 Satoshi range.
I will not open my trade until the breakout occurs in either direction.
For now, I am long on BCN, but there is still room for downward movement.
**This is just an idea, not professional trading or financial advice**
Ranked number 18 overall, Bytecoin has a huge market cap in the Crypto space.
There are two very simple scenarios:
1. BCN breaks upward out of the triangle and goes Bullish
2. BCN breaks downward out of the triangle and goes Bearish and will find support near last breakout at 75 Satoshi range.
I will not open my trade until the breakout occurs in either direction.
For now, I am long on BCN, but there is still room for downward movement.
**This is just an idea, not professional trading or financial advice**