BCN (Bytecoin) / BTC. According to the previous trading idea, the price did not reach a potential entry point, as the symmetrical triangle that formed was broken down. Let me remind you that with this coin it is not possible to work short. Now the price has reached a potential entry point with good potential. The price broke through the local downtrend line, thus...
After the breakdown of the downward secondary trend line, a symmetrical triangle has formed, which, in case of breakdown upwards, can act as the canvas of the ascending pennant . The goals of the triangle and the pennant are completely different. It will be worked out during the breakdown or only the goal of the triangle or the ascendant pennant can only be...
Bytecoin (BCN) pump coin, as you can see from the graph, was pumped to mega X even in the bear market in 2018 twice in a row by + 600% and + 666% from the breakout zone.
As you can see, all the big pumpings were for non-random numbers +666, + 4000%, + 4666%, + 600%, + 666%.
Who knows how to read numbers, understands all the logic and why it was necessary to...
There is a breakdown of the downtrend local trend line.
The beginning of a series of pumps like last time or a false breakdown?
The breakdown was made by an impulse at a large percentage.
The situation is similar as it was at the time to BTC / USD before the trend reversal in April 1, 2019. There was no rollback of the price after the impulse. Then the price rose...
BCN (Bytecoin) A rounded bottom is formed. We are now in the 2nd phase of the formation of this global, long-forming figure.
In the second phase, trading volumes are at a minimum. The coin is not interesting to anyone, "faith is killed," the price is at a historic low, the dump is over. The second phase of the formation of this figure differs in equalizing...
MACD is still can continue it's momentum it's trend to downside but it can changed dramatically as this coin is just a small marketcap.
RSI is already on lowest level for 2019
resistance #1 15 satoshi (20 ema)
resistance #2 16 satoshi (50ema)
reistance #3 20 satoshi (200ema)
somehow the spike its often...
BCN is in an extremely bad position and shouldn't buy anymore. The best buyzone of BCN is 5sts, current price is 14sts
It seems that the lack of informations on price leverage has made BCN become gradually weak and disappear
If BCN has a bull-run in the future (low rate), the price target should be 20sts and 41sts
Based on previous pumps, shows that two of Bytecoin's pump has occurred in May. Except for one pump that happened at the end of 2017 and the start of 2018(December and January). Add that Bytecoin has a new hardfork ahead. Also, Bitcoin steady price leads alt party.
I expect these targets for BCN/USD:
Trade Duration: Medium
Bytecoin is an open-sourced, private and untraceable cryptocurrency that was started in 2012. Bytecoin is the first coin that implemented CryptoNote technology as a default aspect to build a project. Launched in 2012, Bytecoin was widely spread in the Dark Net...
Green - buy. Red - sell.
Long term trade with decent PPT.
One of the oldest project that still active and have a working product.
BCN has reached the level of support on weekly chart;
Current price level 15-20 sats has a very strong support;
RSI is also close to oversold zone;
It's not a financial advice.
Trade carefully and good luck!
I think waiting is over, pair didn't reach for a long time another support which was 15. It is very common on markets that if there is strong bullish movement pairs not necessary are touching support line when they push forward. Since my last BCN idea BTC price slashed another 50%. It was close to 6500 back then. I think that BCN bottomed at this stage. Position...