Currently forming a Cup Handle pattern with Divergence in RSI.
Accumulate BICO between ranges 1.30-1.10.
IF you want to Put Stop Loss; SL will be at 0.999.
SELLING TARGET 1: 1.56 ,
TARGET 2: 1.80 ,
TARGET 3: 2.30 .
On the above 1-day chart price action has collapsed 90% since early December. Now is an excellent moment to be bullish. Why?
1) The ‘incredible buy’ signal prints.
2) Regular bullish divergence. Lower lows in price action as oscillators print higher lows.
Is it possible price action falls further? For sure.
Is it probable? No.
Biconomy a newer edition on Coinbase is worth way more than what its currently at so, lets see if it can get back up there :) Its been lagging until now I can see it starting to build RSI rising MACD soon to be bullish ...
Biconomy is a multichain relayer protocol that aims to improve the user onboarding and transaction experience on decentralized applications (DApps). The project’s declared goal is to make web3 products as intuitive and easy to use as web2 products.
One of my favourite pick outside of Top 100 (350 000 000 million market cap), but I don't think you will see it...
Biconomy has been quickly listed on many exchanges, some were surprised on twitter with how quickly it was listed on coinbase.
(Bear in mind some coins have never been listed on exchanges such as XRP/Ripple on coinbase and robinhood)
Biconomy has low gas fees and its strength lies in APIs that make it a strong Web 3.0 play, and potentially advances beyond...
The floor of BICO has been established with a double bottom and a retest of $5.50. It is safe to buy and expect to see significant upward movement. Be sure to set a $5.25ish stop loss and sit back and watch this one move. The idea here is to lose small if we lose but win big if we win. Potential targets could exist in the $16-$22 range. If that is broken, $40.
After a massive rally, BICO collapsed 75% from the top within a week of its release.
There are a couple scenarios that could play out here:
Bullish scenario: The upper trend line breaks and BICO reverses to the upside toward $10+ as its next target.
Bearish scenario: The local support area breaks down (shaded rectangle) and we see prices between $3 - $5.
BICO just released on multiple exchanges on December 1, 2021. Within its first day, it had just over a $1B market cap reaching a price of $23. The next day, it quickly dumped to just under $9.
I would say it bottoms near $7 - $8 before any bullish reversal. If that doesn't hold, then I wouldn't be able to provide any additional info on this since we have no...