BNT - Catch a Ride up with Bancor?
BNT is a blockchain protocol that allows users to convert different virtual currency tokens directly and instantly instead of of exchanging them on cryptocurrency exchanges like Coinbase. Basically a fancy wallet.
We saw a big pump early august, capping out on the 8th just under $2.80. Since then, pretty solid downward channel with very little deviation.
The past few days we've seen it bounce off the bottom on a pretty convincing breakout. Will it continue? Or will we have a chance to buy in soon?
I feel like we'll probably get a bounce off the first TP zone. Upward support is looking strong and we're getting higher lows on every decrease.
Indicators are looking generally bullish, with signs of some trend weakening. Bearish trend was long ago bucked on the volume with all the pumps happening during increases and very little sell volume.
Considering the steepness of the downward column, how many bears didn't sell high? Sellers tired?
We've got good play around the EMA's currently, bouncing off 200 on the 1D and 100 on the 4H. Good chance this will continue up to the next EMA at least.
OVERALL
Could buy in towards the bottom of the upwards support to snag some quick profit. Or wait for it to likely bounce down off the TP area to get a decent low risk position for long term growth. This could wind up backfiring if it decides to pick up steam all of a sudden, so spreading buys out may be the best course of action if you don't want to miss any fun.
Long term TP's are marked in dashed green, and go up higher than previous ATH. There's a lot of potential up room here, but they will likely be LONG TERM.
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“Ego is to the true self what a flashlight is to a spotlight.” - John Bradshaw
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
We saw a big pump early august, capping out on the 8th just under $2.80. Since then, pretty solid downward channel with very little deviation.
The past few days we've seen it bounce off the bottom on a pretty convincing breakout. Will it continue? Or will we have a chance to buy in soon?
I feel like we'll probably get a bounce off the first TP zone. Upward support is looking strong and we're getting higher lows on every decrease.
Indicators are looking generally bullish, with signs of some trend weakening. Bearish trend was long ago bucked on the volume with all the pumps happening during increases and very little sell volume.
Considering the steepness of the downward column, how many bears didn't sell high? Sellers tired?
We've got good play around the EMA's currently, bouncing off 200 on the 1D and 100 on the 4H. Good chance this will continue up to the next EMA at least.
OVERALL
Could buy in towards the bottom of the upwards support to snag some quick profit. Or wait for it to likely bounce down off the TP area to get a decent low risk position for long term growth. This could wind up backfiring if it decides to pick up steam all of a sudden, so spreading buys out may be the best course of action if you don't want to miss any fun.
Long term TP's are marked in dashed green, and go up higher than previous ATH. There's a lot of potential up room here, but they will likely be LONG TERM.
--
“Ego is to the true self what a flashlight is to a spotlight.” - John Bradshaw
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Comment:
This might be one of those "if i could have charted it closer" moments. we'll see how it plays out.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
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