BAND vs Bitcoin Chart Analysis (BANDBTC #5)BANDBTC is showing some recent bullish action but with really weak volume... There is hope.
If we look at the last four candles, they are all green but the volume is not very convincing... It feels weak.
This is a short-term analysis as we are only looking from June forward.
BANDBTC is trading near All-Time Lows, in fact, the lowest ever was a long-wick back in January so this is ATL based on candle close.
All-Time Lows are really good for our trading style.
Setting up a trade at these levels can result in very low risk and high potential rewards.
That is, a tight stop-loss (around 0.00001243 in this case) paired with high targets...
But how you trade is up to you, we use manual stop-loss just so you know.
The MACD is showing a bullish cross while the histogram is green but it sits below zero, still.
The RSI is also trending higher but not yet in the bullish zone.
It would be perfect to see the RSI above 50, the MACD above zero, and BANDBTC above EMA50 or 0.00001592.
This is would give us very strong signals but there is still hope.
We have a strong bullish divergence with the MACD.
This isn't enough to consider this pair bullish but looking at the other altcoins, taking the whole market into consideration, then this one also can turn into a win.
Namaste.
