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
Bytecoin / USD Short-term price analysis
Bytecoin has a bearish short-term trading bias, with the BCN / USD pair creating bearish lower lows and lower highs on the four-hour time frame.
The four-hour time frame is showing that a bearish head and shoulders pattern has been triggered, placing the emphasis on more near-term downside for the BCN / USD pair.
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 as one of the...
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!
. Bytecoin/Monero is in a range bound and the beginning of uptrend is expected.
.The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 48.
. There is a possibility of temporary retracement to suggested support zone (0.00001355 to 0.00001145). if so, traders can set orders based on Price...
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...
At the 1 week chart it can be seen that a price touched long term support level. This level has been tested three times. Currently we can see double (triple) bottom was formed and indicators become bullish again. Stochastic, WPR and CCI indicate a good entry point, while RSI is neutral.
We can seen that each time a new growth wave starts when the price touches...
BCN finally dropped close to 30% which is good news if you are waiting for the enter as I do.
BCN is approaching the first buy level which is around 15 +/- 1.
It is hard for me to say if the BCN will go below 10 or stop at 15 or maybe go down to 5.
BCN is solid coin and volume is rather big so I think another price spike will most likely happen
I would not set...