Here we have BCD/BTC on the 1H chart.
BCD/BTC appears to be rising after a corrective down move. Price has recently been trading within a rangebound structure between horizontal resistance at 0.0050 and a support zone at 0.0041.
Price is picking up 6% yesterday (01-30) and 19.76% today since then it has been having more upside on the hourly chart.
I am expecting BCD to pick up momentum after the bounce on the horizontal support zone, and a move up to the horizontal resistance zone at 0.0051
This trade could play out in 2 ways, I have outlined these below:
-Price find support at 0.0040, and continues to pick up momentum after the breakout, creating an impulse that will reach the horizontal resistance level at 0.0051.
If price manages to stay in the horizontal support again at 0.0041 first, it will be preferred because the up and down moves across have been so sudden and sharp.
if you like it dont forget to like ;)
BCD/BTC appears to be rising after a corrective down move. Price has recently been trading within a rangebound structure between horizontal resistance at 0.0050 and a support zone at 0.0041.
Price is picking up 6% yesterday (01-30) and 19.76% today since then it has been having more upside on the hourly chart.
I am expecting BCD to pick up momentum after the bounce on the horizontal support zone, and a move up to the horizontal resistance zone at 0.0051
This trade could play out in 2 ways, I have outlined these below:
-Price find support at 0.0040, and continues to pick up momentum after the breakout, creating an impulse that will reach the horizontal resistance level at 0.0051.
If price manages to stay in the horizontal support again at 0.0041 first, it will be preferred because the up and down moves across have been so sudden and sharp.
if you like it dont forget to like ;)