BICOUSDT possible uptrend!
Updated
In my previous post about BICO,
I suggested that BICO might stop the months old downtrend and switch to an uptrend.
We now see a strong bull candle breaking through the resistance line - great evidence of a possible uptrend.
It might be too risky to enter now, but if the trend reverses back to the BOS line and bounce back, that might be a good entry point for LONG.
The volume also suggests strong signal for the start of an uptrend.
I expect a pullback as low as 0.2265.
I suggested that BICO might stop the months old downtrend and switch to an uptrend.
We now see a strong bull candle breaking through the resistance line - great evidence of a possible uptrend.
It might be too risky to enter now, but if the trend reverses back to the BOS line and bounce back, that might be a good entry point for LONG.
The volume also suggests strong signal for the start of an uptrend.
I expect a pullback as low as 0.2265.
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If we can confirm the reversal, this would be a good entry for LONG.
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The doji is intact for 30 minutes now - meaning the price is really refusing to submit to the 6 months old downtrend.Comment
Despite previous doji star, the price fell again, touching the resistance line of the downtrend.
This is important - if the price shows rebound here, we might see a start of a strong uptrend.
If the price breaks through the line, however, our chances are low.
The price might eventually start a run, but we cannot trade based on mere hope.
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And now we see a reversal! If the price breaks through 0.224 line, that is a strong sign of an uptrend.
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Order cancelled
Unfortunately, the reversal did not take place.
The price may still go up, just not this time.
If we see another pattern later on, I'll upload a new post :)
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