Bytecoin have been descending since early Jan 2018, as well as all cryptos, but it has broken the descending a few days back. also indicates that a potential reversal is coming. Bytecoin might even see some sideway movement as BTC recovers. The first resistance that BCN has to break is its previous ATH during Jan 2018 of 112sats. Once broken, BCN will have to break 155sats which was support from its previous run-up during MAY/JUNE 2017. If broken, then the next TP that I am eyeing is 270sats+. Many are calling BCN to hit $1 USD by EOY, which I am doubtful of but again... this is Crypto so noone really knows how high or low any coins can go. I think BCN will most likely hit between 30-50c by EOY, which is still a crazy increase in price. The main issue that must be dealt with (and is being dealt with by the BCN team) is to get on more exchanges. BCN was added on a handful of new exchanges during Q1 so that is something! Hopefully the rest of the year will bring us to bigger exchanges so that we can finally see the price of BCN appreciate to levels worthy of its value.
In summary, my short term target prices are:
I will most likely be taking profits on the way up and looking to re-enter on slight pullbacks. I've learned the hard way that nothing goes up forever.
This is not investment advice, this is just my take on BCN.
Bottom has been found and BCN is indeed moving sideway as expected during this BTC recovery phase. I am eagerly awaiting the release of new stores to the BCN ecosystem, BCN/fiat exchange, and BCN card that is scheduled for the end of april. Also worth mentioning would be the upcoming announcement of the BCN tokens in the near future as stated by BCN team on reddit. Q2 will most definitely bring BCN to greater heights. It is only a matter of time!
The graph depicts sideway movement ranging from 29-31sats along with RSI trending upward and MACD showing bullish sign. Volume is also starting to pick up (volume for the whole crypto market also). I will be keeping an eye on BCN's movement and will update accordingly. Happy investing all!