CryptoCow
Long

BlockMason Credit Protocol (BCPT) - possible 15% gain in 5 days

BINANCE:BCPTBTC   BlockMason Credit Protocol / Bitcoin
BCPT has formed a nice uptrend channel (in yellow).
We are moving slowly, but steadily upwards. Volume is not very convincing yet, but constant.

Supports and resistances (=targets) are the red horizontal lines on my chart.

If we can remain in the uptrend channel , we could hit the first target of around 7,500 satoshis in around 5 days from now.
This is a conservative target - if we can gain some real momentum and see higher volume , we could get there much faster, and also get much higher.

As you can see, however, we are exactly at a major resistance atm, at around 6,500 sats .
We need to break this level first.

A retrace from here to the downside of the channel could very well happen, in which case it would be a good opportunity to buy some BCPT, if you are not in a position already.

A break to the downside of the uptrend channel could bring us to the support at around 5,800 sats .

Therefore, I have set a stop loss just below the downtrend channel (at 6,180 sats ), and that's what I would recommend.

Good luck trading.

If you've found this post helpful, please hit the Like button. Thanks!
Comment: We have failed to break the 6500 resistance yet, but we also haven't broken the uptrend channel yet.

Let's see what the next attempt brings.
Comment: Well, thanks to BTC rallying we fell out of the channel, but quickly got back again.
Hopefully we can stay inside.
Comment: We're having a really hard time here to keep up with the BTC rallies.

We fell out of the channel, and confirmed it now as resistance (on the 1 hour chart).
Let's see if we can get back inside soon.
Order cancelled: Trade cancelled for now, I will re-evaluate after the BTC correction is over.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out