At the moment, price seems to be stabilising around 5131 sat (the 78,6% in blue).
This area seems to be acting as a strong support.
Moreover, the chart shows us a simple – almost symmetrical - triangle formation, and we are closing in! Having a strong support on the blue horizontal Fibonacci, back by an almost golden cross in the MACD (and if we look at the ETH chart here below, the cross is already there!), we just need and to creep up a bit and we are good to go.
BCPTETH chart on the daily - look at the golden cross in the MACD:
But before you pull the trigger, remember that triangles can be two edged swords, and we first want a confirmation of the triangle break-out before trading this one. In the meantime, feel free to speculate :-p
Note that the odds are in favour of the bulls for now, with a very , and an oversold that will likely curve out to the moon.
Keep your patience in line a bit, and follow this BCPT closely if you want to trade here.
Remark: BCPT is still a small crypto, with a market cap of merely $24M and a of just under $1M (96 BTC ); this low makes it vulnerable to pumping and dumping, which is also something you can see back in the charts, especially if you look on shorter time frames. You can either ignore that completely, or take it into account e.g. If you buy this crypto, it makes sense to already put some sell orders somewhere at a price multiple (e.g. At +99% or so), because you will probably not be around when the pumping is happening (remember, it is pump, ànd dump – so these price spikes are only there for a couple of minutes). Setting a sell order up front can take advantage of this. In the meanwhile, you can wait for break-outs, especially if you like the fundamentals of this one.
Remark 2: This is a small crypto and still quite fresh from its "ICO", testing its "ATH" again is definitely a strong possibility (especially given the still low market cap).
Fundamental story worth checking out beforehand!
Here to serve :)
MACD golden cross is being made right now, and we have our green candles at the right side of the graph!
But as you can see here in each graph here below, the Heikin Ashis are still consistently green, no doji's or spinning tops. Not on the 1hourly chart, not on the 4-hourly, not on the daily, not on the weekly. You can wait for such a doji to start reassessing your positions in BCPT. You can go to the chart in Tradingview and click on the candle section and switch it to Heikin Ashi, it will be easy to follow up there when I'm not around ;)
weekly (you can even see the doji reversal indicator just before it)
Also note that there can be spikes in this price more easily than for a big one like Bitcoin, so you can even put some sell orders already on more elevated levels (e.g. just under the 38,2, because the price high of a next candle will likely hit it).