alanmasters

Blocknet - Solid Smartnodes Altcoin + Analysis (1300%+ PP)

Long
BITTREX:BLOCKBTC   Blocknet / Bitcoin
Blocknet is one of those altcoins that you can 'mine' through smartnodes. It isn't actually mining, but the topic isn't smartnodes right now so I'll call it that way to keep it simple.

I noticed that the altcoins that offer smartnodes have very different charts compared to other famous alts, which on average all have the same chart basically.

The "Smartnodes tokens/altcoins" tend to preserve their price better than other alts that do not offer such feature.

Smartnodes are a great way to earn passively while you hold cryptocurrency long term. A must have for any long term crypto-trader.

This is good because it helps you accumulate alts while in bear mode to later sell on bull run mode, or support the projects that you trust and believe in.

Let's take a look at the charts for a quick analysis.


Blocknet ( BLOCKBTC ) Analysis by Alan Masters

  • BLOCKBTC has been on a very strong retrace and today I am seeing some early (very early) reversal signals.

  • Let me start by saying that volume needs to come first, for any bullish action/momentum to be sustained.

  • Second, EMA10 needs to be broken (green line) before any real profits can be generated. So we can trade on the shorter time frames for 10-40% gains, but if you want 100%+ gains, then we need the signals mentioned above (based on my trading strategy of course) plus a big bag of patience.

  • This altcoin has been massively oversold, you can see this on the RSI . Which also shows bullish divergence , a very strong signal on this time frame.

  • MACD still needs work, but a bullish crossover can be spotted as well as a curve up.

  • We can also read the candlesticks . The last read candle is a bullish Doji , which clearly played out as BLOCKBTC went up by 30%+ after this signal showed up.

There is a lot more that can be understood from reading this chart. I am writing this purely for your own learning and entertainment, so if you enjoyed hit LIKE and show your support... Thanks!

Namaste.
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Comments

Thanks for the analysis, any further thoughts on this one?
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