Bitsend (BSD) In A Short Term Channel
Updated
Bitsend has been bouncing in a channel the past 12 hours. Showing some strength. Great opportunity to trade within it.
MacD and RSI looking good on the 15 min time frame and surprisingly good on the DAILY chart as well so this could very well be a great buy for long term.
Bitsend only has a circulating supply of about 19 mill and is very low priced. Great volatility for huge gains if you trade smart.
All it needs is for some buyers to show up.
Trade Procedure:
Buy now.
First target is top of channel.
If it breaks upper channel potential for huge percentage gains.
Stop loss would be break of lower channel.
Keep in mind MacD and RSI look great on the DAILY so there may be incentive to just hold if you don't want to trade the channel.
Goodluck!
MacD and RSI looking good on the 15 min time frame and surprisingly good on the DAILY chart as well so this could very well be a great buy for long term.
Bitsend only has a circulating supply of about 19 mill and is very low priced. Great volatility for huge gains if you trade smart.
All it needs is for some buyers to show up.
Trade Procedure:
Buy now.
First target is top of channel.
If it breaks upper channel potential for huge percentage gains.
Stop loss would be break of lower channel.
Keep in mind MacD and RSI look great on the DAILY so there may be incentive to just hold if you don't want to trade the channel.
Goodluck!
Note
Looking at the chart now on the hourly timeframe, the pattern very well could be developing into a bullish pennant. Still needs buyers to show up though.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.