This is an Analysis for Bitcoin Diamond on a Monthly timeframe including both the USD and BTC pairs
On the left (USD pair) a test of the middle band can be seen, this will likely be a point of support for bulls, as seen in the past
On the right (BTC pair) a test of the bottom band can be seen, I have included a sketch of how I think the channel will play out...
💎Technical Analysis Summary💎
BINANCE: BCDBTC
-Bitcoin Diamond is on a strong downtrend
-The next key level below is around 4400s sat area
-I have drawn a potential descending channel
-The idea here is to buy the breakout of the channel
-And the upside target is up to 5700s sat or higher
A big Thanks for donating 💰 via Tradingview coins this week to ...
BCD/BTC
-This coin has decreased its value by over -44% from the top 12k sat
-The current market price is located at no strong support level
-The next important area of support is located around 6200 range
-This level is a confluence of previous support and resistance
-The chances of a strong bounce reaction in this region is high
-Keep an eye of this zone and...
BCD may be adjusted to 7700-7900sts or 6600-6800sts, we will consider buying when it comes back there because I think it will make some quick pumps once hit these zones
BCD/BTC
BCD is somewhat acting the same with BTG, both coins pump so hard sending the RSI to hit the overbought conditions on a single candlestick.
BCD also manages to break 200D MA key resistance which indicates strong buying pressure. But let's not forget that during its strong uptrend,
no significant support is built in between. Don't be surprised the price...
Priceline of Bitcoin Diamond / Bictoin cryptocurrency has formed a bullish Gartley pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00006042 to 0.00005892
Sell between: 0.00006158 to 0.00006440
Regards,
Atif Akbar (moon333)
BLUE ARROW indicates the EXPECTED Time and Targets
Level Stoploss point up to maximize profit and reduce risk
I'm working all the time, even in Bearish Market
![BCDBTC: Bitcoin Diamond [BCD/BTC] on July 9 (#BCD #BCDBTC)](https://s3.tradingview.com/d/DTlIN9Lk_mid.png "Bitcoin Diamond [BCD/BTC] on July 9 (#BCD #BCDBTC)")
