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Bytecoin

Possible Short Term UptrendH Everyone, Was going through my chart setup for BCN, and noticed a potential uptrend on the daily chart. Both RSI and Divergence are showing an uptrend, with RSI showing 3 potential resistance levels that have to be broken. (46.28, 54.50, and the 58.02) With some heavy volume, we might see a nice upside short term. We are still in a downtrend on the monthly chart. RSI has to test the 40 level before we can see confirmation of an uptrend. Let's buckle our seat belts, and see what happens...
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by estarks02
Time to Byte in? Bytecoin/BTCALWAYS LOOK AT COINS IN RELATION TO BTC . NEVER TRUST SOMEONE WHO DOESN'T LOOK AT THE RELATIONSHIP TO BTC. THE CHART IS INTENDED TO BE ZOOMED IN ON TO SEE CERTAIN POINTS. PLEASE DON'T KILL YOUR EYES LOOKING AT THE SPECIFICS OF THE ZOOMED OUT VERSION. See what BTC might do before thinking about buying any Crypto. I believe in trading when BTC looks good to bounce (continue/end current trend)and using BTCas the base-point for buying into and out of alts. Coins may trade on their own TA, but more than not their TA will be effected by BTC. Due to the severity of the big trends possibly ending. Ok, so a decent amount of info to see. At the current time, Bytecoin seems pretty bad to me. So from the top of this trend we see: .75 bounce, .618-.75 bounce, support below .5 pushing back over and holding at .5, from that .5 to .75 and then back to .5. Then an extension to about .9 and then a series of attempts to stay above the .75. My thinking is: where does the steam come from now? It matters not if BTC does well, but for me to want to buy into this almost without thinking, I would like to see BTC near my levels (6.9k) and Btyecoin around the .25. We can see that the upwards trend was broken several days ago, but we have found support on the .618. I think this may be some of those people hoping BTC goes up and are buying into it now. The movement hasn't been horrible, but neither has BTC's movement. Tl:dr : I want to see Btc hit 6.8k-6.9k and Btyecoin to hit the .25 to feel definite.
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by TrendLINEBoys
#BCN : Bearish view, Double top in 4H $bcnbtc #crypto $crypto#BCN after that pump to 2220 sats, got dumped hard and went into correction phase. Correction we see here is a ABC Zig-Zag . Wave a retraced to 61.8fib Wave b retraced to 38.2fib of Wave a Wave c was a 0.618fib ext of Wave a, coinciding with the 78.6fib support. After that ABC correction, we saw a spike if 35% till the 61.8fib region. RSI is below 50 and stoch is also curving down. In the 4H t-f: Double top is in formation with critical support at 810 . View is till bearish , after that X move till the 61.8 fib resistance, we can expect another correction pattern (possibly a triangle) thus forming a double three correction combination . Re-entry can be confirmed only after we see trend reversal patterns in price action.
by rajista
$BCN BTC Salivating over Bytecoin? Go grab a burger insteadLadies and gents, cycles exist whether you like it or not. When you understand and respect cycles, you’ll do much better as a trader. There are bull and bear cycles with every asset. While we can rely on fib levels for correction entries, not understanding cycles will lock up your capital for an unknown amount of time and ultimately force a premature losing exit for a better trade. I want to thank my followers for bringing this coin up to my attention so I can hopefully save a few traders from this seemingly great trade. On the surface, we have 1) An impulse wave that did 600%. Six hundred percents. Yes, FOMO was very real 2) A corrective wave down to almost .786 that terminated at the support created by the resistance in early May at 75 satoshis. 3) As far as fib time, this corrective wave happens to be roughly .618 of the impulse so it’s save to assume that it should be done, right? 4) The last 2 days, we have an indecision candle which was followed by bullish candle that broke above our 9D EMA and will likely close above it. 5) We are trading above a technical pivot at 89 satoshis and will likely close above it. 6) In this short BTC recovery, it is the definitely one of the higher gainer, currently at 24% where most of the other major coins are doing 5-10% So, BCN seem bullish, should you buy? Well, let’s take a look at the history of this coin I don’t know about you but I have reservations recommending this coin. It seems too pump and dump to me. If you take a closer observation at the last 2 pumps: 3/28/2017 to 5/22/2017 - the correction took about 4 times the length of time of the impulse wave 12/14/2017 to 1/6/2017 - same thing - the correction was 4 times the impulse wave Please note, I have a high chance of being wrong here since we do have a W or double bottom being formed here. However, if history repeats itself, likely we’ll see another pump in September and not anytime soon. With that said, there are plenty of other great trades that are happening now so while this might seem like a great trade at the moment, do yourself a favor, control your appetite and look elsewhere. Much love. Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi-San *The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
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by Kinashi_San
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How to deal with binance?Well, I did not expect such a great downmove since binance listing to be honest. But there are some things to be discussed: 1. The price is near at the breakout zone before binance listing 2. nevertheless there are a lot of improvements since then such as binance listing itself and the VPN partnership with trustzone 3. fundamentally bcn is a lot undervalued at the moment looking at the facts, at 26th may there will be a new roadmap updated 4. coming from stock trading i used fibonacci a lot as you can see in the chart, due to fibonacci a movement corrects at least to 23.6 which is about 0.22Cents depending on Bitcoin price 5. the first binance price was 0.0001 but on a very low volume, nevertheless we should take that chart for granted, there is some potential to move up the fibonacci letter...
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by Richart
Bytecoin is the 'loser' of the dayBytecoin is a true “loser” of the day from the top 20 as it declined 11.71 percent in the past 24 hours. Nevertheless, bulls seem to take the initiative in their hands as the managed to move BCN/USD higher and the currency pair is above the descending local trend line currently. Bytecoin is above the support area at 0,0100. BCN price is below the Ichimoku cloud as well. The possible scenarios for BCN/USD are the following: 1. The currency pair will develop its progress until the next resistance area at 0.0111 where the resistance line coincides with the lower border of the Ichimoku cloud. If bulls are able to cross them both, BCN/USD will have a chance to go towards the next resistance area at 0.0124. 2. Bytecoin will reach the next resistance level at 0.0111 and jump off it (or start to decline from the current levels). The next support area is 0.0100. The currency pair will meet the descending trend line there. 3. Bytecoin will stay close to the current levels with no significant fluctuations. Bytecoin is above the ascending trend line as bulls are still in control of the situation. However, BCN/USD arouse the suspicions as its fluctuations currently are similar to “Pump&Dump” strategy. Check the full crypto analysis HERE
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by UToday