we have completed the accumulation phase and are ready to discover price upward
nice liquidity in form of stop losses are resting near the round number 1.00
risk to reward are interesting, easy to set-up a 2:1 trade
Bico has found support in the price chart and on the RSI. I will buy this dip here and set my final target at 49 cents. SL will be 37 cents with a RRR of 4 to 1.
Keeping an eye on bico. We can see a strong inverse H&S forming, and a possible push up to $0.70–$2.00 if that gets broken next is $4 & $6.
This is a weekly POV
Volume is picking up pattern is shown
Just a bit of insight.
Good luck and have fun with it
Happy Thanksgiving American Friends. I still do expect a holiday weekend pump though we have not gotten as much of a pullback as I had expected to precede this expected pump. For this reason, I have been picking altcoins to go long on that have either not pumped hard yet or have found good support and still have targets to reach.
One such coin appears to be...
BICOUSD is having a strong push that naturally turned the 1D technical outlook overbought (RSI = 75.371, MACD = 0.002, ADX = 39.812). By doing so it hit the 1D MA200 for the first time in almost five months. We are not buying into this pump yet as the 1W MA50 looms (rejected the April 8th high) as well as the Resistance Zone. The 1D MACD is below 0, suggesting...
BICOUSD/ Biconomy is having a strong day but as the price got rejected on Fibonacci 0.618, don't commit into buying long term.
The pattern looks a lot like the June-August when a Fibonacci 0.5 rejection caused a drop and test of the lower Support level.
The current rejection targets 0.27000. If the price closes above the 0.5500 High, we will get the bullish...
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.
Good luck.
Ww
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 .
If it can grab attention, it could even rise above the previous all-time high of $23.8. The project is very solid. coinbase binance and alameda resource sponsor this paper.
Not for financal advice.
It's a very valuable piece of paper, but the price is on the floor. If the hypen interface continues to be used in this way, we may see $25 in the future. It's not financial advice.
I called the low before you can see that linked below
BICO rallied about 100% to $6 but it then dropped again to $3
This may be a good opportunity to buy again.
Glad it's on Coinbase now maybe it can get more exposure so far it seems to be working... Slow long build up not certain where it will end up but looking positive!
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 ...
