Impulse to the left and now we are currently in a correction, it's very simple to trade wait for the break and then the pullback and trading the reversal within that pullback $1120 is the target, Remember Bytecoin is in an uptrend, the odds are in your hands if trading with the trend!
Good Luck,
Same pattern as yesterday continues as we are on our 2nd inside bar on the daily time frame in a row. If not in a position we can patiently watch and look to enter on bullish momentum. If in a position we can have a stop level if the higher low pattern breaks. Move imminent and will come with a volume spike.
We will have to wait and see if this market is expecting a follow-up rally, that initial up move had some serious weight behind it.
I would be shitting my pants if I was a bear right now
Price is currently sitting at a 50% pullback level from all-time high. This beast is not done with the $1,000 level IMO - Great spot to start building back in.
My original forecast was $1000, Due to the pullback we have a chance to reach $1120. We have a reversal on the pullback and a potential close above the 10EMA. Great Potential Trade! Always use a stop loss, don't risk anymore than 2-3% of your account.
Elliot wave cycle seems to be complete here - aligning nicely with a 50% correction & 1.61% extension levels from previous high. I would like to see a nice base form around this $550 level then trend higher to confirm my analysis, but this is the best I can do for now - I will be watching this market closely as more volume starts entering the arena. I would love...
More commonly known as a Bullish Pennant where the market is coming from a lower price and has a wave-y downward movement with subsequent lower hight and higher lows converging to a change point back to bullish movement. That is the hypothesis, if it will do it or not, we will see.
Pretty easy to see. Put your chips on the table if you'd like to play.
Deep complex issues about profitability for miners are shifting Hashpower from BTC to BCH,
BCH is more profitable than BTC currently. ztnark.com
This is supportive of the price move. BTC has a rival: BCH.
We will find out soon if this breaks for a correction, or continues the trend higher - through the $1,000 psych level aligning with the 1.272% fib extension (previous high)
It would be very interesting to see if technical indicators apply to new markets.
(a) at $139
(b)at $814
(c) at $242
= (d) @ $944
Also there are 2 other moves that are valid from the (A) @ $242
And @ $278
It makes me think a buy move is available to the first step up to $377 stop at $278.
Yesterday I made a post targeting $400 and in 24 hours it was reached, now due the the volatility we may be able to get the $1000 quicker than we thought. I had a Take Profit order at $400 so i'm currently not in a trade but the only way to enter this (if you have no order yet) is to scroll down to 4HR and wait for that pullback then go from there.
The 1.272 fib extension coincides with the $500 psych level. It is still too early to tell, but if this breakout gathers enough steam - this is where our BCH is headed
